- The US and Mexico reached a deal on tariffs and immigration, which is seen as positive for USD.
- The European Central Bank is considering cutting interest rates to ramp up inflation.
- The bank holiday in some European countries is keeping the volatility low. EUR/USD is essentially trading sideways this Monday.
EUR/USD daily chart
EUR/USD is trading in a bear trend below its 200 simple moving averages (SMAs).
EUR/USD 4-hour chart
The market is testing 1.1320 resistance while trading above its main SMAs.
EUR/USD 30-minute chart
Fiber is consolidating below 1.1320 and the 50 SMA. It is trading above the 100 and 200 SMAs and a sustained break beyond 1.1320 is needed to reach 1.1400 handle. On the flip side, a daily close below 1.1250 would be seen as bearish.
Additional key levels