EURUSD
The EUR/USD pair continues to be under pressure due to the optimistic atmosphere in the dollar index and the weak Euro. The preliminary Manufacturing and Services PMI figures to be released today could influence the direction of the pair. Expectations that the BoE and the Fed will resort to rate cuts by the end of the year, while the ECB is anticipated to close the year with a more limited cut, are among the developments being closely monitored by the markets. Additionally, the possibility of the dollar strengthening with the approach of the U.S. Presidential elections and the Trump effect should not be overlooked.
Technically, the EUR/USD pair is trading below the 34-period moving average at the 1.0830 level. This level can be considered as short-term resistance for the pair. Downward movements are being observed at support levels 1.077, 1.0735, and 1.0705. The RSI indicator stands at the 40 mark, displaying a negative outlook. The pair has decreased by 0.17% compared to the previous day. In the current situation, it seems likely that the pair will test the support point at the 1.0770 level.
Support :
Resistance :