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Forex: EUR/USD pulls back from 1.3040

FXstreet.com (Córdoba) - The advance of the euro against the dollar has been once again capped by the 1.3040 area on Monday despite the generally weaker USD and the positive market mood.

EUR/USD retested Friday's post-NFP highs around 1.3035/40 but failed to rise past that level and pulled back. At time of writing, EUR/USD is trading around 1.3010 where it is virtually unchanged on the day, having bounced from a daily low of 1.2968 scored during the Aisan session.

On the upside, if the EUR/USD manages to extend gains above 1.3040, next resistances could be found at 1.3050 (March 25 high) and 1.3080 ahead of 1.3100 psychological level. On the downside, immediate supports are seen at 1.3000, 1.2970 and 1.2915 (20-day SMA).

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