The euro currency continues to hold well above the 1.2000 level, as buyers try to recover bullish momentum against the U.S dollar. The EURUSD pair again trades around the key 1.2030 level, after briefly testing demand around the 1.2000 mark on Wednesday. Better than expected U.S economic macro-economic data supported the greenback on Wednesday, however dip-buying in the euro still prevails. Traders now look to the release of the eurozone’s Services PMI, and the ADP private sector jobs report from the United States.
The EURUSD pair is only intraday bullish while trading above the 1.2030 level, buyers remain focused on the 1.2093 and 1.2150 levels.
Should the EURUSD pair start to move below the 1.2030 level again, a decline towards 1.1989 and 1.1958 seems likely.
