EURUSD

The EUR/USD pair continues to remain under pressure due to the strong performance of the US Dollar Index and uncertainties regarding the European economy. The fact that the Dollar Index is staying above its 233-day average is leading to increased demand for the dollar and continued downward pressure on the pair. The uncertainties in the interest rate policies of the European Central Bank and other major central banks are also creating additional pressure on the Euro. PMI data and potential economic developments from the US could be decisive for the direction of the pair.

Technically, the EUR/USD pair continues to trade below the 1.0830 resistance level. It is likely to retreat towards the support levels of 1.0780, 1.0735, and 1.0690. If the downward movement continues, the 1.0780 level can be followed as a critical support. If the pair shows a recovery from this level, a move above the 1.0830 level could support a rise towards the 1.0870 and 1.0900 resistances. The RSI indicator is below the 50 level and is showing a negative trend, which can be considered an indicator of ongoing weakness in the pair. The daily change in the pair is approximately -0.04%.