Price is holding close flat levels while markets yet discovering its footing to begin the new trading week. The USD is currently trading blended against the rest of the majors’ bloc, with changes somewhat insignificant to begin the session.

The EURUSD pair is holding around 1.1230 as price challenges with daily swing area resistance around 1.1215-25. In any case, more importantly, price is holding underneath both key hourly MA and that still places sellers in near term control of the pair.

Further support is just observed around 1.1180-00 with offers arranged around the figure level. That will be the key spot to watch in the coming sessions today.

In the interim, to the topside there is resistance from the 100-day MA at 1.1259 pursued by the 100-hour MA at 1.1273 before price will return to offers around 1.1300 with the 200-hour MA seen at 1.1313 next.

Those will be levels to determine any upside risk for the pair in front of increasingly key events during this week, with markets anticipating Fed chair Powell’s testimony on Wednesday.

Rose Alice

About: Rose Alice

Rose Alice has a long experience as a currency analyst with a deep knowledge of the relationship between macroeconomics and currencies fluctuation.