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EUR/USD Forecast: Euro holds above key support level ahead of important data releases

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EUR/USD turned south and declined below 1.0850 on Wednesday.

EUR/USD holds steady above 1.0800 following Wednesday's decline. ECB will release Negotiated Wage Rates data for Q1 on Thursday. Weekly Jobless Claims and PMI reports will be featured in the US economic docket. The pair struggles to gather recovery momentum early Thursday but holds comfortably above 1.0800.

4 from 45.7 in the same period, while the Services PMI held steady at 53.3. Upbeat PMI readings seem to be helping the Euro hold its ground in the European morning. Later in the session, the European Central Bank will release the Negotiated Wage Rates data for the first quarter, which is a key metric that could influence the market pricing of the ECB's rate outlook. Following the 4.46% increase recorded in the previous quarter, a reading above 4.

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