From a technical perspective the EUR/USD pair is struggling with a 20 SMA at around 1.0950 while a directionless 200 SMA provides support around 1.0845, the first support level for this week.
However, before being able to begin an ascent of a certain consistency, a reaccumulation phase will be necessary.
EUR/USD must recover the 1.1000 threshold to shake off the negative position, with resistance therefore at 1.1060 and 1.1120. Below 1.0900, the aforementioned 1.0845 is the immediate support level, with a break below it exposing the 1.0760 area.
This week there are no particular market movers, apart from Thursday with the publication of American inflation, therefore I do not expect large movements, from now on I remain in HEDGE mode.
