The EUR/USD pair continued to trade uneventfully during the Asian session, stuck around the 1.0860 region after falling as low as 1.0824 on Wednesday. The release of the services and composite PMIs in the region showed a little improvement compared to the manufacturing ones, as in Germany, services grew more than expected, up to 55.3. In the EU, services grew by more than expected, printing 53.3 against 53.
Later today, the US will release some minor employment data, including weekly unemployment rates, unit labor cost, and job cuts. Ahead of the Nonfarm Payroll report scheduled for this Friday, the readings will be closely watched. It will also release its own services indexes for February, expected slightly below January's ones.
View the Live chart of the EUR/USD
The EUR/USD pair was unable to react, holding within the 1.0860/70 region, and with no aims to move. According to the 4 hours chart, the technical picture is neutral-to-bearish, as the price is being capped by a bearish 20 SMA, while the technical indicators head nowhere, right below their mid-lines. The immediate support continues to be the 1.0800/10 region, with a break below it exposing 1.0770 and 1.0735 in the short term, albeit it seems the pair will retain its latest range ahead of Friday's news.
It will take a clear recovery above 1.0890 to see the pair advancing, with selling interest waiting on approaches to the 1.0950/60.
Latest updates on the EUR/USD Forecast
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