EURUSD

The recent PMI data is of great importance for the evaluation of EUR/USD. The Eurozone Services PMI for April 2025 fell from 51.0 to 49.7, and although the Manufacturing PMI slightly increased from 48.6 to 48.7, it still remains in the contraction zone, indicating that the slowdown in the European economy continues. Despite the Euro experiencing short-term declines following soft statements from U.S. President Trump regarding trade tensions with China, it is technically trading between the resistance zone of 1.15099 - 1.15427 and the support zone of 1.13487 - 1.13029. Expectations of the Fed's first interest rate cut support the pair, which is struggling to stay above the pivot level. The U.S. Jobless Claims data, to be announced today, is anticipated to increase volatility in the pair, and selling pressure is expected to continue.