The EUR/USD rose during the American session but held below Friday's close. The weakness of the US Dollar was not sufficient to push the pair above 1.
The US Dollar loses momentum during the American session as risk sentiment improves. The Euro lags on Monday, with German yields tumbling. The EUR/USD has potential for further gains as long as it remains above 1.0530. 0600, and the Euro underperformed, being the weakest among G10 currencies on Monday. New geopolitical concerns weighed particularly on the Euro, which declined against other major currencies. The 10-year German bond yield dropped more than 4.50% to 2.76%. EUR/CHF slid towards 0.
The US dollar strengthened across the board during the American session, benefiting from an improvement in risk sentiment following the initial market opening after Hamas' attack in Israel. The US Dollar Index peaked at 106.60 but then pulled back to 106.00, ending with modest losses due to a decline in US bond yields. EUR/USD short-term technical outlook The EUR/USD remains below the 20-day Simple Moving Average and within a downtrend channel.
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