EUR/USD: Bulls and bears jostle above 1.1300 amid USD rebound

EUR/USD stays pressured around intraday low, keeps short-term trading range intact.

Jump in US 2-year Treasury yields to March 2020 levels underpin USD recovery amid sluggish session.Firmer US retail sales, US CDC announcement on quarantine details join Omicron news to favor greenback bulls.

Lack of data/events signal further sideways grind during year-end holiday season, second-tier US data, risk catalysts eyed.

EUR/USD hovers around intraday low, consolidating the previous day’s gains above 1.1300 during early Tuesday morning in Europe. That said, the major currency pair seesaws around 1.1325 by the press time while keeping sideways grind established since last Wednesday.

Technical analysis

EUR/USD recently conquered a symmetrical triangle formation established since December 16. However, the quote’s successful trading above 200-SMA level of 1.1300 joins firmer RSI, not overbought, to keep the buyers hopeful.

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