EURUSD: Key Support Levels Under Pressure Amid Risk Aversion and PMI Weakness
Over the past three trading days, EURUSD has hovered around 1.1685 during Asian hours, facing pressure largely driven by geopolitical tensions and a downturn in Eurozone PMI data. The pair closed near 1.16856 yesterday, reflecting diminished risk appetite for the euro. While the manufacturing sector remains relatively strong, a weaker services sector pushed the composite PMI below 50, signaling economic contraction. Meanwhile, the US dollar index rebounded on renewed Middle East risk premium, suppressing euro strength. For the average investor, this implies potential short-term volatility and the necessity to monitor key technical support levels closely.


