And it is not simply restricted to the euro. USD/JPY is right down to 156.70 and GBP/USD is on method to the 1.2800 mark as nicely up to now this week. The dollar is struggling as we begin to head in direction of month-end. Here is some meals for thought: Greenback promoting the flavour for this month-end – Barclays
However taking a look at EUR/USD, we are able to see that the technicals are additionally enjoying a component as evident on the day by day chart:
EUR/USD day by day chart
The pair is bouncing off its 100-day transferring common (crimson line), after having seen a rejection from its April excessive at 1.0885. The latter is as soon as once more coming into play as patrons will attempt to hunt for a day by day shut above that. In flip, that may assist to underscore a extra bullish conviction on such a break. As for sellers, they are going to be trying to defend that alongside affords nearer to 1.0900 for now.
And people are the important thing technical ranges in play proper now for EUR/USD.
Circling again to the greenback, the higher threat temper to begin the brand new week can be serving to to pin the dollar a little bit decrease. US futures are pointing a little bit larger once more however it’s nonetheless early within the week in fact. Month-end flows and extra US knowledge within the second half of this week might be key elements to be aware of earlier than all is alleged and carried out.
