Forex: EUR/USD at weekly highs after US manufacturing PMI
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EUR/USD
FXstreet.com (Barcelona) - The EURUSD continued climbing its way back to the weekly highs and was able to print a new one at 1.2833 on the NY session after the release of the upbeat flash US Markit Manufacturing PMI in November (up to 52.4 instead of 51.0 consensus).
The release of Reuters/Michigan Consumer Sentiment in November(up to 82.7 instead of the 84.5 consensus) and the Leading Indicator in October (up by 0.2% as expected) triggered a new upside attempt, but the pair keeps stalling at 1.2830 area. The market is being held around 1.2817, the European session high. The pair is close to sum 100 pips range as the daily low was printed at 1.2737.
"There is a minor sell-off from yesterday's high at 1.2830 and I expect 1.2770-80 resistance to limit the upside, for a slide through 1.2720 dynamic support, en route to 1.2663 low", Deltastock.com analyst Stoyan Mihaylov.
The release of Reuters/Michigan Consumer Sentiment in November(up to 82.7 instead of the 84.5 consensus) and the Leading Indicator in October (up by 0.2% as expected) triggered a new upside attempt, but the pair keeps stalling at 1.2830 area. The market is being held around 1.2817, the European session high. The pair is close to sum 100 pips range as the daily low was printed at 1.2737.
"There is a minor sell-off from yesterday's high at 1.2830 and I expect 1.2770-80 resistance to limit the upside, for a slide through 1.2720 dynamic support, en route to 1.2663 low", Deltastock.com analyst Stoyan Mihaylov.
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