EURUSD

The EURUSD pair remains under pressure with the ongoing optimistic pricing in the Dollar Index. The preliminary Manufacturing and Services PMI data to be announced today could play a significant role in the pair's trajectory. The Dollar Index remaining above the 103.25 level supports the downward pressure on the pair. Additionally, expected rate cuts by the BoE and Fed by the end of the year, alongside uncertainties regarding the U.S. presidential elections, are also influential in the markets. Within this context, the Euro is observed to be weak.

From a technical perspective, the EURUSD pair is trading below the 1.0830 level, where the 34-period average is found, indicating a tendency for the pair to give weak reactions. In downward movements, the support levels of 1.0780, 1.0735, and 1.0690 are significant. Particularly, the 1.0780 level could provide clues as to whether the pair will see a corrective move or a trend rally. In upward movements, a move above the 1.0830 level suggests that the pair could recover to the 1.0940 – 1.0990 range, yet the overall outlook remains negative. The RSI indicator is at 42 and shows a negative outlook. The pair has decreased by 0.03% compared to the previous day.