• EUR/USD remains in a state of inertia as ranges compress. Daily range = 1.1623-62

• Geopolitical headlines keep markets in a chop, but bias still tilts towards a deal

• EUR bulls struggle for traction with spot holding below the 200DMA (1.1682)

• Bearish bias intact sub-200DMA will persist as long as spot trades sub-200DMA

• 1.16 support holding, but without a catalyst it is a floor by default

• Eyes on Thursday's U.S. Core PCE, risks skewed towards a topside surprise

• Hot print likely sees EUR retest 1.16
EURUSD daily chart


Justin McQueen is a Reuters market analyst. (The views expressed are his own). ((Email: ))