EUR/USD Forex Signal: US Consumer Confidence, Fed in Focus

The EUR/USD pair moved slightly below an important support level on Monday as investors reflected on the latest economic data and rising tensions.

Enter your emailThe pair will likely keep falling as bears target the next key support level at 1.1240.Timeline: 1-2 days.pair moved slightly below an important support level on Monday as investors reflected on the latest economic data and rising tensions between Russia and western countries. The pair is trading at 1.1315 ahead of the upcoming US consumer confidence data scheduled for later today.On Monday, Markit published the latest flash manufacturing and services PMI numbers.

Meanwhile, in the United States, the manufacturing and services PMIs declined to 55.0 and 50.9, respectively. The EUR/USD pair also declined because of the rising tensions between Western countries and Russia. Russia has accused the US and other western countries of pushing Ukraine to join NATO. As a deterrence, Russia has pushed more than 100k troops near the Ukrainian border.

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