The EUR/USD pair posts modest gains during the Asian session on Monday. The rebound of the pair is supported by the softer US Dollar (USD) broadly. EU
EUR/USD attracts some buyers above 1.0520 amid the softer USD. The pair holds below the 50- and 100-hour EMAs; RSI is located in the bearish territory under 50. The immediate resistance level is seen at 1.0558; 1.0477 acts as an initial support level. R/USD currently trades near 1.0522, up 0.22% on the day.
Further north, the major pair will challenge the next hurdle at 1.0640 , followed by 1.0655 . On the flip side, the lower limit of the Bollinger Band at 1.0477 acts as an initial support level for EUR/USD. The next contention to watch is near a low of October 4 at 1.0450. The next downside stop is located at the 1.0400-1.0405 zone, representing a psychological mark and a high of October 17. A decisive break below the latter will see a drop to 1.0330 .
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