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.