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\n Share:<\/span><\/p>\n The EUR\/USD pair managed to defend the round-level support of 1.0700 on Monday. The major currency pair broadly struggles for a decisive move as investors await the United States Consumer Price Index (CPI) data for August, which will be published on Wednesday at 12:30 GMT.<\/p>\n S&P500 opens on a bullish note amid a cheerful market mood as investors shift focus to the context that the Federal Reserve (Fed) would not raise interest rates in the remaining year. The US Dollar Index<\/a> remains under pressure after a nominal improvement in China\u2019s inflation.<\/p>\n On the Eurozone<\/a> front, investors remain uncertain about the interest rate decision<\/a> by the European Central Bank (ECB)<\/a> for September monetary policy. Analysts at Commerzbank a majority of the ECB council members will probably vote for unchanged key rates due to the weak economy and the downward trend in the inflation rate.<\/p>\n EUR\/USD<\/a> trades in a Symmetrical Triangle chart pattern on an hourly scale, which indicates a volatility<\/a> squeeze. The downward-sloping trendline is plotted from September 6 high at 1.0749 while the upward-sloping trendline is placed from September 7 low at 1.0686.<\/p>\n The shared currency pair remains closer to the 20-period Exponential Moving Average (EMA) at 1.0725 for the past three trading sessions, portraying a sideways performance.<\/p>\n Meanwhile, the Relative Strength Index (RSI) (14) oscillates in the 40.00-60.00, demonstrating a directionless performance ahead of the US inflation data.<\/p>\n Fresh upside bias would appear if the asset delivers a breakout of the neutral triangle September 8 high at 1.0744. A decisive break would send the major toward the horizontal resistances plotted from September 4 high at 1.0809 and September 1 high at 1.0882.<\/p>\n In an alternate scenario, a breakdown below September 7 low at 1.0686 would expose the asset to May low at 1.0635. A slippage below the latter would expose the asset to the round-level support of 1.0600.<\/p>\n\n
EUR\/USD hourly chart<\/h2>\n