EURUSD marginal recovery

The euro currency has staged a marginal recovery higher against the US dollar, following the release of better-than-expected German Manufacturing data this morning. Buyers need to hold price above the 1.0840 level to encourage the notion that a meaningful bottom has been formed. Overall, EURUSD bears may look to sell any correction towards the 1.0820 to 1.0830 area.

• The EURUSD pair is only bullish while trading above the 1.0840 level, key resistance is found at the 1.0880 and 1.0930 levels. 

• The EURUSD pair is bearish while trading below the 1.0840 level, key support is found at the 1.0777 and 1.0730 levels.