EURUSD

The EURUSD pair continues to be influenced primarily by the general trend of the US dollar and potential actions from the Fed, despite data expected today from the Eurozone indicating growth above expectations for the first quarter. Positive data from the US yesterday may have supported the dollar, creating some pressure on the pair. Technically, the 1.12888 pivot level is a critical threshold. A sustained move above this level could lead to a continuation towards resistance levels of 1.13234 (D1), 1.13782 (D2), and 1.14229 (D3). However, if it falls below the pivot, support levels of 1.12340 (S1), 1.11994 (S2), and 1.11547 (S3) will come into play; this scenario is generally supported by strong US data and an increase in dollar demand.