The euro is moving higher against the US dollar after the US ISM manufacturing survey unexpectedly fell to a ten-year low on Tuesday. The EURUSD is only short-term bullish while trading above the 1.1000 level, leaving the pair with a major upside battle. Overall, a temporary bottom has now most likely been established around the 1.0880 level, making long positions more desirable.
• The EURUSD pair is bearish while trading below the 1.1000 level, key support is found at the 1.0880 and 1.0850 levels. • The EURUSD pair is only bullish while trading above the 1.1000 level, key resistance is found at the 1.1025 and 1.1070 levels.