EUR/USD sellers are looking to keep the downside momentum going
The pair tracked higher towards the end of last week but gains were limited around minor resistance around 1.0861. That said, buyers claimed a victory by shifting price action back above both key hourly moving averages.
However, with the dollar in demand amid the risk-off mood to start the new week, the pair fell back below its 200-hour MA (blue line) and sellers are now testing the 100-hour MA (red line) @ 1.0807 in European trading.
A break back below the 100-hour MA would see sellers regain near-term control and establish a more bearish bias in the pair again.
However, key support just under 1.0800 is still keeping the pair afloat for now:
The downwards trendline support is seen around 1.0795 this week and that will be a key area in limiting losses for EUR/USD in the days ahead.
There is little else to really impact the pair in the sessions ahead, so just be mindful of the key technical levels amid possible month-end flows as well.
A firm break under 1.0780 could trigger stops on the way down but for now, buyers are still in the game as near-term price action sits in between both key hourly moving averages.
