EUR USD exchange rate has been hovering around the 1.1700 mark for weeks — quite sluggish overall. The thing is, both the Fed and the ECB are not going to change their interest rates, that's pretty clear already. Still, everyone is waiting for statements from Powell and Lagarde, hoping that some hints about future tightening will leak out.

Regarding the forecast: The pair is currently stuck at the 20-day EMA at 1.1698 and can't quite decide. The RSI has fallen out of the bullish zone, now sitting between 40 and 60 — so more neutral. Technically, the next resistance is at 1.1745 (50% Fibonacci), then it moves up to 1.1825. On the downside, watch out for 1.1666; if that breaks, it could get uncomfortable.

The EUR USD forecast heavily depends on inflation data — German consumer prices may have accelerated. That could give the euro some upward momentum, but honestly, the current rate just seems bored. As long as there are no big surprises, it will probably stay in a sideways range.