EURUSD Under Pressure After Weak PMI Data

Technical analysis of Forex market

The euro is back under selling pressure against the US dollar, after much weaker than expected PMI Manufacturing data from the German and French economies. Bearish momentum is now building with the EURUSD pair likely to drop further if the key 1.1355 support level is broken. Traders now await the release of key Manufacturing data from the United States economy.

The EURUSD pair is strongly bearish while trading below the 1.1355 level, key technical support is found at the 1.1330 and 1.1300 levels.

If the EURUSD pair trades above the 1.1400 level, key technical resistance is found at the 1.1425 and 1.1450 levels.

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