A steady stream of PMI data will make its way through the financial markets on Monday, although trading activity is expected to be muted as the key European markets pause for the Easter holiday. Based on this, how is the EURUSD pair now trading? Take a look at this 2 April EURUSD Technical Analysis.
2 April, OctaFX – The euro remains under selling pressure against the U.S dollar, as the new month of April gets underway, amidst slow Bank holiday trading conditions.
The economic calendar remains busy for the EURUSD, with the U.S Manufacturing, eurozone CPI, and Retail sales data, whilst the U.S Nonfarm Payrolls jobs report may provide a much-needed directional catalyst for the pair. Moving into the U.S session, the 1.2275 level is key downside support, whilst the 1.2382 level remains key technical resistance.
2 April EURUSD Technical Analysis
The EURUSD pair retains a short-term bearish bias whilst trading below the 1.2382 level, further declines towards 1.2239 and 1.2205 remain possible.
Should the EURUSD pair move above the 1.2382 level, further upside towards 1.2430 and 1.2475 seems likely.
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