EUR/USD moves sideways, holding above 1.1900

• Euro in ranges versus US dollar, up against pound.
• EUR/USD with a negative bias in the short-term.

The EUR/USD is holding onto daily losses for the second day in a row. It remains above 1.1900 with the negative momentum limited. The pair bottomed at 1.1915 and it continues to move sideways near 1.1930. The greenback is modestly higher and holds onto gains even as US yields pullback.

The US Dollar Index gains 0.15% and trades at 91.82, while the 10-year yield is falling almost one percent. On Asian hours, the yield reached a fresh one-year high at 1.64% and then dropped back to 1.60%.

The Dow Jones is falling by 0.20% and the Nasdaq 0.09%. The lack of momentum in equities kept the EUR/USD capped on the upside. Economic data from the US came in better-than-expected, with the Empire Manufacturing Index rising to the highest since November 2018, helping the dollar. On Tuesday, retail sales data is due, and the week's key event will be the FOMC meeting. The Fed will announce its decision on Wednesday and also will release new forecasts.

EUR/USD Intraday outlook

From a technical perspective, the EUR/USD is consolidating on Monday between 1.1935 and 1.1915. The bias in the very short-term points to the downside. A break under 1.1915 would expose 1.1900. On the upside, the area between 1.1935 (upper limit of the intraday range) and 1.1940 (20-hour moving average) is the key resistance: if the euro rises above, it will change the bias to the upside.

Technical levels