FxAnalysis

The DAX remains in consolidation mode, holding above key support levels, with a break over 24,500 potentially opening the door to 25,000.

The USD/MXN is stabilizing near 18.50 ahead of CPI, with rallies toward 18.87 seen as shorting opportunities targeting 17.75.

The Euro (EUR) lost further momentum in quite a negative start to the new trading week, motivating EUR/USD to deflate below the 1.1600 support, hitting three-day troughs and flirting with its transitory 55-day SMA.

Spot Gold is down on Monday, trading at its lowest in a week, just below the $3,350 mark. The bright metal fell throughout the day, despite some modest caution leading the financial board.

The Australian Dollar (AUD) has started the week on the back foot vs. the US Dollar (USD), prompting AUD/USD to recede to two-day lows and put the 0.6500 contention zone to the test once again.

The EUR/USD pair keeps trading within familiar levels on Monday, with a modest downward bias. The US Dollar (USD) started the week with a soft tone, although not enough to push the pair beyond the 1.1700 peak posted last week.