The EUR/USD grinds lower near the intraday bottom at 0.97640 level over week manufacturing PMI data. According to official sources, Spain’s manufacturing PMI fell from 49.9 to 49.0 Whereas the French manufacturing PMI fell from 50.6 to 47.7 and Germany’s manufacturing PMI slipped from 49.1 to 47.8 as the eurozone continues to bear the brunt of Russia Ukraine war. Analyzing the daily chart, if bears managers keep the price Away from the 21-day EMA then the EUR/USD pair may revisit the previous week’s low. Apart from this, the investors will shift their focus towards the US manufacturing PMI, which is due later today.
Important pivot points on the daily chart
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
| Classic | 0.9766 | 0.9778 | 0.9785 | 0.9797 | 0.9804 | 0.9816 | 0.9823 |
| Fibonacci | 0.9778 | 0.9785 | 0.9790 | 0.9797 | 0.9804 | 0.9809 | 0.9816 |
| Camarilla | 0.9788 | 0.9790 | 0.9791 | 0.9797 | 0.9795 | 0.9796 | 0.9798 |
| Woodie’s | 0.9764 | 0.9777 | 0.9783 | 0.9796 | 0.9802 | 0.9815 | 0.9821 |
| DeMark’s | – | – | 0.9782 | 0.9796 | 0.9801 | – |
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