EUR/USD recovers from 1-month lows

EUR/USD managed to erase losses and rose toward 1.0600 after the beginning of the American session. The pair rebounded after falling earlier to 1.0569, the lowest level in a month. 

Price action across the forex market remains limited on Monday, with majors moving in small ranges. EUR/USD so far has moved within a 30-pips range. The pair peaked recently at 1.0599 and it was trading at 1.0590/95, at the same level it closed on Friday. 

Equity prices on Wall Street gained momentum after the US opening bell. The Dow Jones was rising 0.38% and the Nasdaq was up 0.40%. US bond yields were falling despite the risk appetite environment. The 10-year was at 2.365%. 

The US dollar was among the worst performers on Monday, posting modest losses and retreating after posting important gains last week. 

EUR/USD Technical levels 

To the upside, immediate resistance is seen at 1.0600 (daily high), 1.0625 (Apr 6 low) and 1.0640 (Apr 3 low). On the downside, support could be located at 1.0570 (daily low), 1.0535 (Feb 23 low) and 1.0500 (psychological).