EURUSD - Consolidation above key resistanceEuro/US DollarFX:EURUSDRLindaEURUSD opened the week with a bullish gap amid hopes for a U.S.-Iran peace deal, erasing the previous week’s decline to a low of 1.1575 The euro is caught in a stagflation trap: weak PMIs and the risk of recession are causing the market to doubt the ECB’s ability to tighten policy, despite inflation above 3%. Technically, the focus is on the 1.16357–1.1660 range. Continued optimism regarding the situation in the Middle East could support further gains (the market may strengthen from 1.1635 toward 1.168–1.1722) Resistance levels: 1.1635, 1.168, 1.1722 Support levels: 1.1627, 1.1583 Technically, there are attempts to break the local structure; the reason is a gradual shift in the geopolitical backdrop and a weakening dollar, which presents opportunities for the euro. If the bulls keep the price above 1.1635, this could become a technical driver for growth Best Regards, R. Linda!