The euro currency has eroded earlier gains against the US dollar, following the release of more weak PMI Manufacturing data from the eurozone economy. If ECB President Mario Draghi sounds more dovish at today’s meeting, the EURUSD pair could fall back towards the 1.1044 support level. A more hawkish tone from the ECB President could propel the EURUSD pair toward the 1.1255 level.
The EURUSD pair is only bearish while trading below the 1.1110 level, key support is found at the 1.1090 and 1.1044 levels.
The EURUSD pair is only bullish while trading above the 1.1110 level, key resistance is found at the 1.1180 and 1.1255 levels.
