EUR/USD Forecast: Buyers could take action once 1.0600 is confirmed as support

Following a quiet Asian session, EUR/USD gained traction and turned positive on the day slightly above 1.0600. In case the pair manages to stabilize a

EUR/USD gained traction and climbed to the 1.0600 area on Monday. The cautious market mood could limit the pair's upside. Near-term technical outlook suggests that the bullish potential remains in place. bove that level, buyers could remain interested. The renewed US Dollar weakness in the European morning helped EUR/USD edge higher. Nevertheless, the cautious market stance could make it difficult for the pair to extend its recovery in the near term.

Meanwhile, the benchmark 10-year US Treasury bond yield turned north and advanced toward 5% early Monday, after losing 1.5% on Friday. A break above 5% in the 10-year yield could provide an additional boost to the USD in the near term. On Tuesday, S&P Global PMI surveys from Germany, the Euro area and the US will be watched closely by market participants ahead of the European Central Bank monetary policy announcements on Thursday.

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