- The pair keeps the constructive tone on Monday, around 1.1780.
- The up move in spot comes along further pressure around the buck.
- EMU’s Sentix index came in above expectations in July.
The European currency keeps trading on a firm fashion at the beginning of the week and is pushing EUR/USD to test levels last seen in mid-June.
EUR/USD looks to trade, USD
Spot is adding gains to Friday’s post-Payrolls advance, always on the back of the persistent selling mood hitting the greenback, which is navigating in fresh 4-week lows in the 93.80 region when tracked by the US Dollar Index (DXY).
In the meantime, market participants keep adjusting to June’s non-farm payrolls published on Friday while the US-China trade war remains the sole driver of the mood around markets today.
Somewhat supporting EUR, Investor Confidence measured by the Sentix index came in above estimates at 12.1 for the current month, also surpassing June’s 9.3.
Later in the session, President M.Draghi is expected to speak before the European Parliament.
EUR/USD levels to watch
At the moment, the pair is gaining 0.28% at 1.1778 facing the next hurdle at 1.1782 (high Jul.9) seconded by 1.1853 (high Jun.15) and finally 1.1854 (38.2% Fibo of April-May drop). On the other hand, a break below 1.1718 (monthly low Dec.12 2017) would open the door to 1.1662 (10-day sma) and then 1530 (low Jun.19).
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