FXStreet (Moscow) - EUR/USD posted 1.3242 low not seen from September, 2013, but rebounded to 1.3277 on better-than-expected German PMI data; it is trading at 1.3268 post the weaker EMU PMI release.



PMI’s are out



The euro got helped by the stronger-than-expected Italian and German PMI’s. However, the demand on the euro is quite modest, as even though the German readings exceeded expectations they still retreated from July levels both in Manufacturing and Service sector. The EMU PMI Composite came at 52.8 vs 53.4 expected, only confirming the slowing of the euro zone economy . The pair is trading at 1.3268 with the nearest target at 1.3305 to the upside, and 1.3234 to the downside.



What are today’s key EUR/USD levels?



Today's central pivot point can be found at 1.3280, with support below at 1.3234, 1.3209, and 1.3163, with resistance above at 1.3305, 1.3351 and 1.3376. Hourly Moving Averages are bearish, with the 200SMA at 1.3355 and the daily 20EMA bearish at 1.3393. Hourly RSI is bearish at 37.



Related Articles
  1. Forex Education

    Four Currencies Under the Spotlight in 2016

    With currencies having become the “tail that wags the dog,” in terms of their impact on the global economy, these four currencies will be under the spotlight in 2016.
  2. Forex Fundamentals

    These Currencies Are The Biggest Losers Of The Stock Downturn

    Here’s a list of the hardest-hit currencies amid the global stock market mayhem.
  3. Forex Strategies

    Will the Euro Continue to Rally? (EUO)

    The euro is rallying. Should investors chase this performance or is the real opportunity on the other side of the trade?
  4. Investing News

    China’s Forex Reserves Dropped Significantly

    China’s forex​ reserves dropped by a record $93.9 billion at the end of August to $3.56 trillion because the Central Bank has been selling dollars to provide a cushion to the falling yuan​
  5. Forex

    The Pros and Cons of a Fully Convertible Rupee

    Amid the rising economic power of India, the talks of making the Indian currency fully convertible are gaining momentum. We look at the pros and cons.
  6. Forex Fundamentals

    Chinese Yuan an Unlikely Reserve Currency

    As the world's second largest economy, China's challenge to America’s dominance includes a push to make the yuan (RMB), the world’s reserve currency. Whether it can do that now is unclear.
  7. Economics

    How Currency Enforcement Helped Sink The Trans-Pacific Partnership (TTP)

    One particular barrier to trade that has received much attention of late and caused delays in negotiations of the TPP is exchange-rate manipulation, by which a country artificially devalues its ...
  8. Forex

    Top U.S Forex News Sites

    Breaking news moves forex markets. Here are the top U.S. sites for tracking forex news.
  9. Investing

    Financial News Comparison: Bloomberg Vs. Reuters (BAC, GOOG)

    Access to financial information has grown with the expansion of digital news. Bloomberg and Thomson Reuters lead the pack, claiming a majority of the business information market.
  10. Economics

    Who Benefits From South Korea's Lowered Interest Rates?

    South Korea is the latest country to cut interest rates in an attempt to stimulate economic growth.
COMPANIES IN THIS ARTICLE
Trading Center