The EUR/USD saw little action on Monday, hovering around the 1.0860 mark for most of the day.
EUR/USD Current price: 1.0865 A holiday in Europe and a scarce American calendar kept EUR/USD range bound. Germany and the Eurozone will release minor macroeconomic figures on Tuesday. EUR/USD consolidates last week’s gains; bulls paused but retained control. A holiday in Europe and a scarce United States macroeconomic calendar exacerbated the quietness around the pair throughout the day.
However, the momentum faded mid-American afternoon, with the Dow Jones Industrial Average turning sharply lower, while the S&P500 and the Nasdaq Composite held on to uneven gains. Finally, it is worth adding the US Dollar retained the soft tone despite a modest uptick in government bond yields. EUR/USD short-term technical outlook From a technical point of view, the EUR/USD pair is poised to extend its advance.
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