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The gains in the euro came to a standstill as price action remained trading close to opening prices on Monday.

However, the common currency is well supported above the 1.1800 level for the moment.

The Stochastics oscillator is likely to continue pushing higher. This could mean that the common currency has further room to rise.

The next key challenge will be the 1.1900 level of resistance.

A strong move above this level could open the way for further gains in the EURUSD.

To the downside, the 1.1800 remains the line in the sand.

A break down below this level could see the euro extending declines back to the 1.1715 level.

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