EURUSD

The EUR/USD pair continues to remain under pressure due to strong employment data from the US and weak PMI figures in the Eurozone. Positive economic data from the US is leading to a strengthening dollar, while the economic weakness in the Eurozone, especially in Germany, is causing the Euro to depreciate. The strong performance of the Dollar Index is deepening sales in the EUR/USD pair. The upcoming ISM Manufacturing PMI data from the US could be decisive for the direction of the pair.

Technically, the EUR/USD pair is trading at the 1.027 level. While the pair continues to stay below the 1.0385 resistance level, the support levels of 1.023 and 1.0185 are being monitored in downward movements. The RSI indicator is at level 44 and shows a negative outlook. A slight decline of 0.05% was recorded in the pair compared to the previous day. If the 1.023 support is breached, the likelihood of retreating towards the 1.0185 and 1.014 levels may increase. On the upside, resistance levels of 1.028 and 1.033 are significant.