Seems poised to test 100 DMA/38.2% Fibo. confluence around mid-1.0400s

Share: EUR/USD languishes near its lowest level since January amid sustained USD buying. Bets for more rate hikes by the Fed and a softer risk tone underpin the Greenback. The setup remains tilted in favour of bearish traders ahead of the US macro data. The EUR/USD pair oscillates in a narrow band through the Asian session on the first day of a new week and consolidates its recent fall to the lowest level since January 6 touched on Friday. A combination of supporting factors keeps the US Dollar pinned near a seven-week high, which, in turn, is acting