The US dollar inches lower as July’s ISM Manufacturing PMI fell short of expectations.
The pair dipped further in the bearish territory after 0.9070 failed to keep the price afloat. An oversold RSI has helped the greenback to claw back some lost ground.
However, the rebound may be short-lived as sentiment favors selling into strength. 0.9090 is the hurdle where sellers could be waiting to jump in at a better price
0.8980 at the origin of the June rebound is a critical demand zone on the daily chart.
