EUR/USD Bears Maintain Control as ECB Caution Weigh on EuroEURO VS US DOLLARERRANTE:EURUSDErranteTechnical Analysis The EUR/USD 4-hour chart reflects ongoing bearish pressure after failing to sustain above the 1.17647 resistance zone, indicating sellers are currently dominating the market. The pair trades below the 20-period EMA (blue line), which is beginning to slope downwards, confirming short-term bearish momentum. Price action remains beneath the middle Bollinger Band, emphasizing seller control over the near-term price direction. Recent candlesticks show multiple rejections from the 1.17164 level (61.8% Fibonacci retracement), indicating strong resistance and failed attempts to push higher. The overall momentum suggests a potential continuation of the downward move unless bullish momentum returns decisively. Failure to hold the support near 1.16865 would expose the pair to deeper declines targeting the Fibonacci extension zones between 1.16650 and 1.16380 and possibly lower. Alternative Scenario: Conversely, a break and sustained close above 1.17164 (61.8% retracement) could trigger a short-term rebound, potentially challenging the 1.17647 resistance level. Fundamental Outlook ECB officials' speeches today will reinforce the cautious policy stance, maintaining rates steady amid external uncertainties. US crude oil inventory reports and the Atlanta Fed GDPNow forecast will be key in assessing inflationary pressures and economic growth. The FOMC meeting minutes release will be critical for signaling the Fed's future monetary policy intentions, which remain a key driver for the dollar’s strength.