EUR/USD bid around 1.2330, ISM eyed

• The buying interest remains intact around EUR so far on Monday.
• The pair keeps eroding the key short-term support line around 1.2330.
• Later in the NA session, US ISM Manufacturing will be the salient event.

EUR/USD is posting decent gains at the beginning of the week and keeps challenging the area of daily highs in the 1.2330/35 band.

EUR/USD looks to US docket

The pair is adding to Friday’s gains and keeps eroding the key short-term line off 2018 lows, which has been acting as quite a strong support for the time being.

The offered bias, in the meantime, is prevailing around the greenback, putting the key 90.00 handle under further pressure, when gauged by the US Dollar Index. The better tone around the risk-associated space is also reflecting in yields of the US 10-year reference, which are trading in the upper end of the range near 2.77%.

Later in the session, the always-relevant ISM Manufacturing is seen at 60.1 for the month of March, a tad below February’s 60.8 reading. Further data releases in the US docket include Markit’s Manufacturing PMI.

EUR/USD levels to watch

At the moment, the pair is advancing 0.10% at 1.2332 and a break above 1.2477 (high Mar.27) would target 1.2537 (high Jan.25) en route to 1.2557 (2018 high Feb.16). On the other hand, immediate contention emerges at 1.2282 (low Mar.29) followed by 1.2241 (low Mar.21) and finally 1.2206 (low Feb.9).