EURUSD

The EUR/USD pair continues its volatile course during a period when markets are anticipating the US ISM Services PMI and ADP Private Sector Employment data. Statements from the heads of major central banks such as the Fed, ECB, and BoE may also have an impact on the pair. The strong trend of the dollar index is causing the EUR/USD pair to exhibit a weak trend. Economic data to be released this week and statements from central bank officials could be decisive for the short-term direction of the pair.

Technically, the EUR/USD pair is trading below the 1.053 resistance level. In downward movements, levels of 1.0485, 1.0445, and 1.039 are watched as support. The RSI indicator is at level 38 and shows a negative trend. The pair showed a 0.07% decline compared to the previous day. This situation may indicate that the pair could continue its weak trend in the short term. However, possible movements above 1.053 could bring along a recovery potential towards levels 1.0565 and 1.0600.