EUR/USD Price Forecast: Ascending channel favors bulls ahead of the key central bank event risk

  • The EUR/USD pair trades with a mild negative bias below mid-1.1500s through the Asian session on Monday amid a modest US Dollar (USD) uptick, though it lacks bearish conviction. Spot prices remain close to the highest level since October 2021, around the 1.1630 area touched last week as traders now look to the crucial FOMC policy decision on Wednesday before placing fresh directional bets.