EUR/USD consolidates around 1.1360, near last week lows as UK PM May speaks at Parliament

• Euro unchanged against the US dollar, trades near Friday’s close.
• DXY steady at 2-week highs above 96.00.
• Brexit: UK PM May speaks at the Parliament.  

The EUR/USD pair bottomed during the US session at 1.1355, slightly above last week lows. It is trading in a small range between 1.1355 and 1.1370.  

It is unchanged from Friday’s close. Earlier today, it rose to 1.1400 and turned to the downside. The negative momentum continues to prevail, but so far the euro has been able to hold on top of 1.1350. A break lower could clear the way to more losses. On the upside, a recovery above 1.1380 would remove the intraday negative momentum and point to a test of 1.1400.  

The US Dollar Index is hovering around 96.35, marginally lower for the day. It pulled back after hitting at 96.44, the strongest level since January 4.  

Volatility could remain low over the next hours taking into account that it is a holiday in the US (Martin Luther King Jr. Day). At the time of writing, PM May is at the Parliament exposing his Brexit Plan B.  
Earlier today, the International Monetary Fund released its latest World Economic Outlook Update. In it lowered Eurozone area growth forecasts to 1.6% from 1.9% of the previous reports published in October.

EUR/USD Levels