The EURUSD is consolidating ahead of the ECB rate hikes and US inflation data. With the FED raising interest rates more quickly this month, this asset should be selling on the market . On the one hour chart, we can also see that the asset is attempting to go lower forming lower highs and lower lows after bouncing from the 30min chat Fib 0.618 level at the end of the US session yesterday.
The selling pressure could arrive around the 1.063-2 level.