Pressure on the euro persists as EURUSD hovers near support at 1.1535

The EURUSD pair continues to trend lower amid the latest Federal Reserve decision and positive developments in US-China trade relations. The pair is currently trading around 1.1535. Discover more in our analysis for 3 November 2025.

EURUSD forecast: key trading points

• The US and China have reached a temporary trade agreement
• Traders are awaiting the release of the ADP employment report, the ISM PMI, and the University of Michigan consumer sentiment
• EURUSD forecast for 3 November 2025: 1.1485

Fundamental analysis

The EURUSD rate is undergoing a correction after a three-day decline, with sellers attempting to hold the price below the 1.1535 support level. The US dollar is strengthening following last week’s Federal Reserve decision to cut the benchmark rate by 25 basis points, fully in line with market expectations. However, Federal Reserve Chairman Jerome Powell signalled that further monetary easing in December is not guaranteed.

Additional support for the dollar came from new trade signals from the White House: the US and China reached temporary agreements, which include China suspending new export restrictions on rare earth metals and ending investigations into US semiconductor manufacturers. In exchange, the US agreed to delay certain tariffs and cancel a previously announced 100% tariff on Chinese goods.

Meanwhile, the US government shutdown continues to delay the release of several key macroeconomic indicators. Still, traders this week will closely watch the ADP private employment data, the ISM manufacturing PMI, and the University of Michigan consumer sentiment index.

EURUSD technical analysis

The EURUSD pair is undergoing a correction and remains within a downward channel, with sellers pressing to secure a breakout below the 1.1535 support level. Today’s EURUSD forecast suggests downward movement could continue towards 1.1485.

The Stochastic Oscillator reinforces the bearish outlook, with its lines entering overbought territory and turning downwards, signalling a potential new wave of selling pressure.

A consolidation below 1.1520 would strengthen the case for further downside momentum.

Summary

The EURUSD rate is undergoing a correction amid improving US-China trade sentiment, while investors’ attention now turns to upcoming US macroeconomic data. EURUSD technical analysis suggests that the bearish momentum remains intact, with a possible test of the 1.1485 level if the pair consolidates below 1.1520.

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