The euro fell back on Monday as the US dollar index rose. The dollar index snapped a 5-day losing streak.
Economic data from the eurozone was sparse. Most of the trade flows for EURUSD came on the back of the dollar strength.
Final manufacturing PMI for the eurozone rose slightly from 45.7 to 45.9, beating estimates by a small margin.
Will EUR/USD Continue to Post Declines?
The currency pair continues its retreat after failing to retest the resistance area of 1.1177. EURUSD initially failed to test this level.
The current declines could push the currency pair down towards the initial support at 1.1131. A breakdown below this level could hasten the decline to 1.1075.
