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Forex pairs in this Article » EUR/USD (Barcelona) - The Euro saga continues, having decided to join the 1.3600 area just before the end of the month, at 23:50 GMT, and start February up there. Having gone as high as 1.3640, the pair started the European equity session at 1.3607. However, as Markit manufacturing PMI data gets published, the EURUSD is being pushed higher.

The EMU Markit manufacturing PMI rose from 46.1 to 47.8 (consensus of 47.4) and the German figure rose from 46.0 to 49.8 (consensus of 48.8). Investors are cheering the numbers, rallying to new highs, currently at 1.3655
The Italian manufacturing PMI came up from 46.7 to 47.8 (consensus of 47.4) and the Spanish data rose from 44.6 to 46.1 (consensus of 45.5). The French manufacturing eased from 44.6 to 42.9, as expected.

"Overbought 4h RSI still holds above its 7-day day and points higher, accompanied with strong bullish momentum that see potential for stretch towards 1.3700, round figure resistance and 1.3726, Fib 76.4% of larger 1.4246/1.2042 descend", wrote Windsor Brokers analyst Slobodan Drvenica, pointing to initial support at 1.3590 zone, ahead of more significant 1.3550/40 (yesterday's consolidation floor / 4h 20 day EMA).
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