EUR/USD extends gains as dollar weakness persists into June trading

EUR/USD maintained its bullish momentum into June, rising 0.4% to 1.0885 during European morning trading. The pair benefited from continued dollar weakness driven by US-China trade concerns and disappointing US economic data from late May. European economic indicators showed resilience, with German factory orders unexpectedly rising 0.8% month-over-month. The dollar index extended losses to 104.15, marking a third consecutive day of declines. Technical analysis shows EUR/USD breaking above the 1.0870 resistance level, with next targets at 1.0920 and the psychological 1.1000 level. The 50-day moving average at 1.0825 now acts as support. Market positioning data reveals net-long EUR positions increasing for the fourth straight week. Traders await Wednesday's ECB meeting minutes and Friday's US Non-Farm Payrolls for further directional cues. The prevailing risk-off sentiment continues to favor the euro over the dollar.