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2025-11-03 13:11:49
[Euro Gets a Breather, but Overall Weakness Remains! Strong Dollar Suppresses Exchange Rate Rebound] 1. During Tuesday's Asian trading session, the EUR/USD exchange rate was largely flat, currently trading within a narrow range of 1.1521-39. The exchange rate previously tested and successfully held the key short-term support level of 1.1520, gaining temporary breathing room. However, the overall trend remains weak, with upward potential significantly limited. 2. The continued strength of the US dollar is the main factor suppressing the euro. Following the Fed's interest rate meeting, the dollar's momentum remains strong, with the dollar index continuing its upward trend and currently approaching the key resistance level near 100.25. Whether this level is breached or not will have a significant impact on the euro's short-term trend. 3. Increased policy divergence within the Fed has provided new support for the dollar. Signals from several officials have downplayed market expectations for a December rate cut, making dollar interest rates attractive in the short term, which continues to put pressure on the euro. 4. Market attention will turn to the Eurozone economic data to be released later today. The final reading of the EU's October HCOB Manufacturing Purchasing Managers' Index (PMI) will be released on Monday. The survey forecast is 50.0, and the performance of this key level will directly affect the euro's exchange rate. From a technical perspective, the euro/dollar pair has support at 1.1520 and 1.1392, while on the upside, 1.1670 and 1.1918 constitute significant resistance. Although the exchange rate has temporarily stabilized, given the continued strength of the US dollar, any rebound is likely to face significant resistance, and the overall weak trend is unlikely to change in the short term.
