And it's not just limited to the euro. USD/JPY is down to 156.70 and GBP/USD is on approach to the 1.2800 mark as well so far this week. The greenback is struggling as we start to head towards month-end. Here's some food for thought: Dollar selling the flavour for this month-end - Barclays
But looking at EUR/USD, we can see that the technicals are also playing a part as evident on the daily chart:
The pair is bouncing off its 100-day moving average (red line), after having seen a rejection from its April high at 1.0885. The latter is once again coming into play as buyers will try to hunt for a daily close above that. In turn, that will help to underscore a more bullish conviction on such a break. As for sellers, they will be looking to defend that alongside offers closer to 1.0900 for now.
And those are the key technical levels in play right now for EUR/USD.
Circling back to the dollar, the better risk mood to start the new week is also helping to pin the greenback a little lower. US futures are pointing a little higher again but it is still early in the week of course. Month-end flows and more US data in the second half of this week will be key factors to be mindful of before all is said and done.
