EUR/USD Forecast: Euro seems vulnerable ahead of key macroeconomic events

• EUR/USD fluctuates in a narrow band at around 1.0850 early Monday.
• 1.0800 aligns as key technical support level for the pair.
• Market action could remain subdued ahead of this week’s key macroeconomic events.

EUR/USD is struggling to gain traction and moving sideways near 1.0850 after closing the second consecutive week in negative territory. The pair’s near-term technical outlook shows no signs of a recovery yet as market participants remain on the sidelines ahead of the Federal Reserve policy meeting and high-tier macroeconomic data releases.