The EUR/USD pair advanced to 1.2230 as the greenback remained on the backfoot. The UK and the US had their markets closed amid different local holidays, but other European markets and Canada worked normally. A light macroeconomic calendar and month-end flows were behind the dollar’s slide.

The EUR/USD pair trades near the daily high heading into the Asian opening, with the risk, skewed to the upside. The 4-hour chart shows that it managed to advance above its 20 SMA, which lacks directional strength. However, the longer moving averages maintain their bullish slopes below it. Technical indicators lack directional strength, consolidating within positive levels. Further gains will likely extend towards the 1.2350 price zone, as the pair topped this year at 1.2349.

Key levels to watch:

Support levels: 1.2200 1.2165 1.2130

Resistance levels: 1.2270 1.2310 1.2350