EURUSD Rises as the USD Faces Headwinds

At the start of the new week, EURUSD is trading relatively steady, showing little change from the previous session while maintaining its bullish momentum around the 1.173 area.

The U.S. dollar (USD) has weakened following the U.S. Federal Reserve’s recent monetary policy decision, which is currently providing a favorable backdrop for the pair’s recovery.

From a technical perspective, buyers remain in control. The pair is forming a wedge pattern and is undergoing a healthy correction after the previous strong rally. The first key support lies at 1.172, followed by 1.168. As long as these levels hold, the path of least resistance for EURUSD in the short term remains to the upside. Upside targets are seen at 1.175 and 1.180.