Today at 14:00 GMT will be released the ISM Non-Manufacturing PMI in the United States, which is expected to see a decline from 55.5 to 55.0. Because of the market’s reaction, readings above the forecasted should strengthen the bullish scenario on the US Dollar, but following a weak NFP data posted last Friday, that scenario isn’t feasible at all, so the chances are low to see a positive reading today.
With the technical analysis of EUR/USD at H1 chart, we expect to see downside continuation’s limited by the support zone of 1.1129. The 200 SMA is still providing a dynamic resistance over this pair and eventually we may see an attempt to break the resistance level of 1.1208. If that happens, then the next step for bulls would be the 1.1300 in a short-term basis.
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Origin: FX BAZOOKA
