Essential EURUSD Levels to Observe in Light of Upcoming PMI Data
Monday, 22 July 2024, 16:32
Key EURUSD Levels to Watch
The EURUSD currency pair often reacts sharply to economic data releases, making it crucial for traders to identify critical levels. As the PMI figures are set to be released, here are the key levels to consider:
Support Levels
- 1.0850 - A significant support area where buying interest may emerge.
- 1.0800 - A psychological level that could further enhance buyer confidence.
Resistance Levels
- 1.0900 - A strong barrier for the upward movement of EURUSD.
- 1.0940 - A further level where resistance is expected to be tested.
All traders are advised to keep a close eye on these levels as they can provide vital insights into market trends influenced by PMI data.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.