EUR/USD fades the initial strength and moves below the 1.18 mark. Dollar-buying remains behind the correction lower in the pair. ECB’s Christine Lagarde speaks later on Monday. The better start of the week in the greenback is forcing EUR/USD to recede to fresh 2-day lows in the sub-1.18 area on Monday. EUR/USD focused on ECB, looks to USD The continuation of the upside momentum in the greenback prompted sellers to keep the risk-associated assets under pressure at the beginning of the week, prolonging the downside bias sparked on Friday at the same time. In fact, the dollar regains poise and advance well above the 93.00 mark when gauges by the US Dollar Index (DXY), or 2-day highs, in a context where the risk-off sentiment looks comfortable. Despite the move, the pair remains well immersed into a multi-day consolidative range. Nothing scheduled data wise in Euroland on Monday, whereas the focus of attention will be on the participation of ECB’s C.Lagarde at an event later in the European afternoon. Across the pond, the calendar is not much interesting either, with the Chicago Fed index only for release and the speech by FOMC’s L.Brainard. What to look for around EUR EUR/USD dropped and recorded fresh monthly lows near 1.1740 following the FOMC gathering. Despite the move, the pair’s outlook remains positive and bouts of weakness are so far deemed as short-lived and look contained. In addition, the improved sentiment in the risk-associated universe, auspicious results from domestic fundamentals – which have been in turn supporting further the view of a strong economic recovery following the coronavirus crisis – as well as a calmer US-China trade front are all underpinning the constructive view on the single currency. The solid positive stance in the speculative community, the latest message from the ECB and the euro area’s current account position also collaborate with this view on the currency. EUR/USD levels to watch At the moment, the pair is losing 0.42% at 1.1787 and faces the next support at 1.1737 (monthly low Sep.17) seconded by 1.1709 (38.2% Fibo of the 2017-2018 rally) and finally 1.1695 (monthly low Aug.3). On the other hand, a break above 1.1917 (high Sep.10) would target 1.1965 (monthly high Aug.18) en route to 1.2011 (2020 high Sep.1). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next S&P 500 Futures: Down over 1.50% as risk-off mood remains at full steam FX Street 2 years EUR/USD fades the initial strength and moves below the 1.18 mark. Dollar-buying remains behind the correction lower in the pair. ECB’s Christine Lagarde speaks later on Monday. The better start of the week in the greenback is forcing EUR/USD to recede to fresh 2-day lows in the sub-1.18 area on Monday. EUR/USD focused on ECB, looks to USD The continuation of the upside momentum in the greenback prompted sellers to keep the risk-associated assets under pressure at the beginning of the week, prolonging the downside bias sparked on Friday at the same time. In fact, the dollar regains poise and… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.