EUR/USD Forex Signal: Sits at a Crucial Support Ahead of Fed

The next key catalyst for the $EURUSD pair will be the upcoming minutes by the Federal Reserve.

Set a buy-stop at 1.0800 and a take-profit at 1.0900.The EUR/USD pair dropped to an important support level ahead of the upcoming FOMC minutes. It dropped to a low of 1.0760 after the latest US housing data and the mixed manufacturing and services PMI numbers.The American and European economies are showing some similarities. Flash data published on Tuesday showed that the services sector is outperforming the manufacturing industry. In Europe, the manufacturing PMI dipped from 45.

The same trend happened in the US, where the services sector outpaced the manufacturing industry. Data showed that the services PMI rose from 53.6 in April to 55.1 in May while the manufacturing PMI dropped to 48.5.

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