The EUR/USD exchange rate held steady at 1.1700 on Monday morning ahead of a busy week in which the US and Europe will release their numbers.

The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, turns lower for the second straight day on Monday and moves further away from a one-week high, around the 99.00 mark touched last Thursday.

ING analysts Chris Turner notes the US Dollar (USD) starts the week slightly offered as investors focus on positive geopolitical and political developments, but highlights that high Oil prices and elevated rates keep risks alive.

The GBP/USD exchange rate rebounded on Friday after reports emerged that the Iranian Foreign Minister was traveling to Pakistan, possibly to meet with the US…

The GBP/USD pair attracts some dip-buyers in the vicinity of the 1.3500 psychological mark and climbs to over a one-week top during the Asian session on Monday. Spot prices currently trade just below mid-1.3500s, up 0.10% for the day, and seem poised to appreciate further.

AUD/USD outlook: Bullish momentum builds above 0.7090 as risk sentiment improves, with upside targets near 0.7300 on breakout.

The USD/CAD pair attracts some sellers following a modest Asian session uptick to the 1.3680 area on Monday, though it lacks follow-through selling.

EUR/USD edges higher after opening from levels below the previous close, remaining in the negative territory and trading around 1.1710 during the Asian hours on Monday. The pair faced challenges as the Euro (EUR) depreciated amid fragile peace talks in the Middle East.

The USDJPY pair declined during its recent intraday trading, as it attempts to form a higher low that could act as a base to regain positive momentum and resume its upward movement. This comes amid the dominance of a strong short-term bullish wave, along with continued positive and dynamic support from trading above the EMA50, which enhances the chances of recovery.

The GBPUSD pair extended its gains during recent intraday trading, supported by breaching the upper boundary of a negative technical formation that developed during a short-term corrective wave, specifically a falling wedge pattern, supported by positive signals from relative strength indicators. However, these indicators have reached heavily overbought levels, which may limit further gains in the near term and could lead to sideways movement or even a temporary decline in search of a higher low, reinforced by facing resistance at EMA50, which increases the pressure.