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Forex pairs in this Article » EUR/USD (Córdoba) - The EUR/USD spiked to a fresh 8-month high at the beginning of the New York session after the ISM services PMI came in softer-than-expected, adding pressure to an already weak dollar.

EUR/USD underpinned by US services PMI

The Institute for Supply Management reported its services index fell to 54.4 in September from 58.6 in August, missing expectations of 57.4. EUR/USD jumped and printed a high of 1.3627, last seen Feb 4, before losing momentum and retreating to pre-data levels.

EUR/USD technical outlook

At time of writing, EUR/USD is trading at the 1.3610 zone, still 0.3% above its opening price. Valeria Bednarik, chief analyst at notes that the pair holds a slightly bullish tone in the short-term. "Short term buyers had surged on approaches to the 1.3570/80 area, and only a break below will suggest further losses for today".

Bednarik locates immediate supports at 1.3570, 1.3535 and 1.3490, while she places next resistances at 1.3660 and 1.3710.
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