The euro is struggling with the 1.1300 level against the US dollar ahead of the release of key PMI data from the eurozone economy this morning. Weaker than expected PMI data may push the EURUSD pair back towards the 1.1260 to 1.1245 support zones. Another key mover for the EURUSD will be the US PMI data later today, with a worse than expected number likely to be US dollar negative.
The EURUSD pair is only bearish while trading below the 1.1260 level, key support remains at the 1.1245 and 1.1225 levels.
If the EURUSD pair trades above the 1.1260 level, key technical resistance remains at the 1.1310 and 1.1360 levels.
