EUR / USD: Euro Dollar Raises Downside Pressure Despite Disappointing ISM :

The EUR / USD has strengthened its fall on the Forex this afternoon and remains heavy despite a disappointing ISM.

The ISM manufacturing is down to 58.2 against 58.4 expected and 58.7 previously.

The subcomponents of employment and prices paid also disappoint expectations at 59.7 and 65.5 respectively.

The EUR / USD pair that broke under the support of 1.1880 fell back to 1.1860 and remains close to the threshold following the publication.

A break below would reinforce bearish pressure, and attention would be shifting down the channel, which is now 1.1840.

Below, we will then have support for 1.1825 / 1.1800, including a break to strengthen the bearish correction since the peak of 1.1960.

Conversely, in the event of a rebound, a return above 1.1880 could ease the immediate bearish pressures, with a possible resumption of consolidation in the range of 1.1880-1.1930 by the end of the week.

The EUR / USD is currently trading at 1.1860 on Forex.