The euro is now in positive territory for the week

US dollar broadly softens

The euro is at the best levels since Monday. The story at the moment is more about broad US dollar weakness than euro strength. USD is near session lows against the euro, sterling, yen, aussie and loonie.

One level to watch is 1.1960, which was last Friday’s close. Finishing the week above that level would break a streak of three weekly losses.

So long as the euro can hold near these levels, there is also a dragonfly doji on the weekly chart, which could be something for the euro bulls to build off.