The market moves so far today have been generally light but the euro is seeing a decent advance from around 1.0970 to 1.1020 in European trading today. There’s not much of a catalyst but it comes off the back of more mixed trading among major currencies, with Treasury yields keeping lower while equities have trimmed losses somewhat.

EUR/USD is testing waters just above 1.1000 for the first time since in over a week after having consolidating around 1.0930 to 1.0990 for the most part last week.

Buyers are back in near-term control and they are keeping a hold above the 100-week moving average of 1.0923 but will have to work through weekly resistance around 1.1033 and last week’s high of 1.1075 to really solidify any further upside momentum.

This article was written by Justin Low at www.forexlive.com.