EUR/USD gains ground above 1.1800 ahead of Eurozone HICP release

EUR/USD Kicks Off Wednesday Strong, Eyes on HICP!

The EUR/USD pair is starting its Wednesday on a positive note, currently trading firmly around the 1.1830 mark during the early European session. This upward momentum is certainly catching the attention of currency traders.

However, it’s not all clear skies for the major pair. Despite the initial gains, the potential for further upside might be somewhat capped. Why? Traders are still navigating a cautious landscape, particularly after the recent (and swiftly resolved) partial government shutdown. This underlying caution could mean that while we’re seeing some strength, big directional moves might be somewhat muted as the market digests these various influences.

All eyes will now be turning towards the upcoming Eurozone HICP release, which could certainly add another layer of volatility and direction to the pair. Stay tuned!

Source: Original Article