EURUSD trades just under the 1.1300 handle

The USD keeps on staying firm in early European trading and it is keeping EURUSD just under the 1.1300 handle for now. The pair stays on the defensive.

Liquidity conditions are a bit on the slimmer side with some European markets shut today yet regardless, look out for the 100-hour MA throughout the following few sessions. That dimension rests at 1.1270 today and sits close to the 100-day MA at 1.1272.

Those two dimensions will be key levels in determining whether the upside momentum in the pair can broaden further this week. In the mean time, topside resistance is seen nearer to 1.1367 (200-day SMA). There’s minor resistance from Friday’s highs and light bids close 1.1347.

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.