Daily Analysis: EUR/USD trades near 1.21

March 3, 2021

The pair touched a fresh session high of 1.2107. The US dollar is seen a little bit weaker during the early session.

EUR/USD is keeping a rebound from 1.2000 on Tuesday. Also, a test of 100-day moving average and trendline support – seen nearer to 1.2035 today. The rebound in the pair comes along with rising European yields.

The US dollar is expected to get a boost following US figures and stimulus progress.

On the economic data front, the pair is expecting Services PMIs from the Eurozone and ADP Nonfarm Payrolls and the ISM Services PMI from the US.