EUR/USD losing momentum just above 1.2300

• The pair is treading water above the 1.2300 handle on Monday.
• USD alternates gains with losses in the 90.00 area.
• Easter Monday Holiday in Europe likely to keep activity low.

The single currency navigates within familiar ranges vs. the greenback on Easter Monday, taking EUR/USD to the 1.2315/10 area, or down smalls for the day so far.

EUR/USD looks to US docket

The pair is looking to stabilize in the lower end of the recent range following last week’s drop from peaks in the vicinity of the 1.2480 region, all amidst thin trade conditions due to the Easter holidays.

On the USD-side, the greenback is alternating gains with losses at the beginning of the week, although it so far manages well to keep business around the key 90.00 neighbourhood.

On the positioning front, EUR speculative net longs climbed to 2-week highs in the week to March 27, according to the latest CFTC report.

In the data space, nothing scheduled today in Euroland as the main markets remain closed, whereas the ISM Manufacturing will be the salient event in the US docket.

EUR/USD levels to watch

At the moment, the pair is retreating 0.03% at 1.2316 facing immediate contention at 1.2282 (low Mar.29) followed by 1.2241 (low Mar.21) and finally 1.2206 (low Feb.9). On the flip side, a break above 1.2477 (high Mar.27) would target 1.2537 (high Jan.25) en route to 1.2557 (2018 high Feb.16).