EUR / USD recovers and rises to the 1.1870 zone before US data.

• The dollar corrects downwards in the market and favors the advance of the EUR / USD.
• The bias continues to favor the dollar, but is losing momentum.

The EUR / USD took advantage of a weak dollar moment and boosted to 1.1871, marking a new high for the day and moving away from 1.1835, the lowest level in almost three months to which it fell hours ago.

The rise in Treasury yields has taken a pause, this added to the rally of the EUR / GBP and a loss for the moment of the dollar, led to the EUR / USD recovering positions after the fall on Wednesday.

For ahead comes important data from the US. on Thursday, which include the ISM manufacturing and unemployment benefit claims. This will serve as a preview of the official June employment report to be released on Friday. Nonfarm payrolls are expected to have increased by around 700,000. On Thursday, the president of the Atlanta Federal Reserve, Raphael Bostic, will speak.

In the Eurozone the final PMI reading for June was released. The regional manufacturing index went from 63.1 (preliminary) to 63.4. In another report, retail sales in Germany rose 4.2% in May, slightly less than expected.

Bearish bias still holds

The recovery that the EUR/USD serves for alidivert downward pressures. The four-hour chart is still showing a negative bias for the euro. A return below 1.1845 would once again leave the euro vulnerable to further declines, with supports at 1.1835 and then 1.1805.

A firm return above 1.1900 would remove the negative bias, as EUR / USD would break above a short-term bearish line, a four-hour average of 20, and a horizontal resistance level.

Technical levels