The EUR/USD pair trades around 1.0860 on a quiet Monday, hovering around its daily opening mid-European morning.
EUR/USD Current price: 1.0857 The strong momentum in metals undermined demand for the US Dollar. The calendar will feature no macroeconomic data but multiple Fed speakers. EUR/USD trades within familiar levels on Monday, lacks clear directional strength. Financial markets are in a good mood, with global stocks advancing, keeping the US Dollar on the back foot, particularly against commodity-linked rivals.
EUR/USD short-term technical outlook The daily chart for the EUR/USD pair shows a bullish overall stance. The pair trades above all its moving averages, while the 20 Simple Moving Average maintains its upward slope, although below mildly bearish 100 and 200 SMAs. In the meantime, technical indicators hold well above their midlines, although heading in different directions, reflecting the absence of a clear directional interest.
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