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EUR/USD EXTENDS HOLDING PATTERN AHEAD OF PMIS

llexaxo
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  • EUR/USD trades in a range in the mid 1.0600s ahead of key PMI data for the US and Eurozone. 
  • The pair has formed a Bear Flag price pattern suggesting the potential for a steep decline. 

EUR/USD extends its holding pattern of the last few days, trading in the mid 1.0600s on Tuesday, prior to the release of potentially market-moving purchasing manager survey data. 

Preliminary Purchasing Manager Indexes (PMI) for April in both the United States and Europe are scheduled for release later in the day and could impact the exchange rate.   



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