EUR/USD hourly chart
The market moves so far today have been generally light but the euro is seeing a decent advance from around 1.0970 to 1.1020 in European trading today. There’s not much of a catalyst but it comes off the back of more mixed trading among major currencies, with Treasury yields keeping lower while equities have trimmed losses somewhat.
EUR/USD is testing waters just above 1.1000 for the first time since in over a week after having consolidating around 1.0930 to 1.0990 for the most part last week.
Buyers are back in near-term control and they are keeping a hold above the 100-week moving average of 1.0923 but will have to work through weekly resistance around 1.1033 and last week’s high of 1.1075 to really solidify any further upside momentum.