EURUSD STILL BEARISH BELOW 1.2330 LEVEL
The euro has continued to slide lower against the U.S dollar during the European trading session, following weaker than expected monthly eurozone PMI Services and Manufacturing data. The EURUSD pair has found interim daily support around the 1.2307 level, although downside pressures are still building across medium-term RSI and Stochastic indicators. EURUSD traders now look to the release of high-impacting U.S PMI and Housing data, with the FOMC Meeting Minutes the main market moving event later today.
- The EURUSD pair remains under selling pressure while trading below the 1.2330 level, intraday support is located at the 1.2292 and 1.2270 support levels.
- Should the EURUSD pair hold above the 1.2330 level on a high-time frame basis, price-action may move back towards the 1.2363 and 1.2390 resistance areas.