FXStreet (Edinburgh) - The single currency is appreciating against the greenback at the beginning of the week, taking the EUR/USD back above the 1.3600 handle.



EUR/USD focus on PMIs



Better-than-expected Chinese PMI gauged by HSBC woke up the risk appetite trends on Monday, lifting the EUR to current session highs in the 1.3610/15 band. Today’s advanced manufacturing and services PMI prints will be the main event in Euroland and the US economy, expected to come in mixed from the previous month.” The pullback in EUR was deeper than expected as it touched a low of 1.3565 before rebounding. The downside risk appears to be limited for today. Allow for a retest of 1.3560/65 but this should lead to a rebound towards 1.3620”, commented Quek Ser Leang, Market Strategist at UOB Group.



EUR/USD key levels



The pair is now up 0.08% en 1.3611 with the next resistance at 1.3644 (high Jun.19) followed by 1.3669 (high Jun.9) and then 1.3677 (high Jun.6). On the flip side, a breakdown of 1.3584 (low Jun.19) would expose 1.3569 (10-d MA) and finally 1.3543 (55-w MA).



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    EUR/USD looks to Greece for direction

  2. Forex News

    EUR/USD awaits steady the Greek referendum

  3. Forex News

    EUR/USD drops to 1.1095-1.11 band

  4. Forex News

    EUR/USD: Bullish bias might end below 1.1090 – FXStreet

  5. Forex News

    Euro Faces Weekend Gap Risk with Greek Referendum Sunday

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!