EUR/USD posts fresh session lows as dollar steadies after slight softness earlier

The dollar is recovering ground across the board

In turn, the bids in the dollar is pushing EUR/USD to fresh lows since 18 February as the Friday lows give way and that puts some pressure on support closer to 1.2023.

EUR/USD H1 03-01

Just take note that the 100-day moving average in the pair comes in at 1.2029 and that will be a key spot to watch in case sellers push the agenda this week.

Elsewhere, the dollar has also trimmed losses against the pound as cable falls to 1.3940 levels from near 1.4000 earlier while USD/CAD is back up to 1.2700 from 1.2675 earlier.

USD/JPY remains more constricted around 106.50-60 with large expiries in play today.

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By Jonathan Prop

Jonathan Prop is an independent financial advisor. He has been working in finance for the last 20 years. After retiring early in his 40s, Jonathan decided to help others get to grip with financial markets, particularly his area of expertise - forex!

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