Forex: EUR/USD sidelined after EMU PMI
Forex pairs in this Article »
EUR/USD
FXstreet.com (Barcelona) - The manufacturing sector in the euro zone has slightly improved during November, printing 46.2, matching estimates and bettering October's 45.4; German PMI has followed suit, posting 46.8 vs. 46 in the previous month. The exception was the Italian PMI, down to 45.1 from 45.5
As a consequence, the bloc currency continues to consolidate its gains in the 1.3020/40 range so far, ahead of the manufacturing PMI and ISM index in the US economy.
The cross is now up 0.35% at 1.3029 and a breakout of 1.3075 (high Oct.23) would aim towards 1.3084 (high Oct.22) en route to 1.3129 (high Oct.18).
On the downside, support levels lie at 1.2968 (low Nov.30) followed by 1.2939 (low Nov.29) and 1.2917 (MA10d).
As a consequence, the bloc currency continues to consolidate its gains in the 1.3020/40 range so far, ahead of the manufacturing PMI and ISM index in the US economy.
The cross is now up 0.35% at 1.3029 and a breakout of 1.3075 (high Oct.23) would aim towards 1.3084 (high Oct.22) en route to 1.3129 (high Oct.18).
On the downside, support levels lie at 1.2968 (low Nov.30) followed by 1.2939 (low Nov.29) and 1.2917 (MA10d).
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