EUR/USD trades to a session high of 1.1245
Buyers are surreptitiously establishing a more bullish near-term bias by holding above the key hourly moving averages and are now looking to push towards a test of the 1.1250 level. Last week's high of 1.1255 will also be a key resistance region to look at alongside decent-sized expiries today rolling off at the 1.1260 level.
There isn't much headlines to really provide traders with fresh direction on the day. Equities remain mixed and slightly more cautious while bond yields are also neither going anywhere so far in the European morning.
This has the makings of a technical retracement from the move two weeks ago but just be aware that we'll still have the ECB meeting on Wednesday and that remains the major risk event for the euro this week.
