2 Feb 2015
EUR/USD eyes 1.1350 on PMIs
FXStreet (Edinburgh) - The single currency is extending its upbeat momentum at the beginning of the week, pushing EUR/USD back to the mid-1.1300s.
EUR/USD firmer post-PMIs
The pair is looking to consolidate the recent break above the 1.1300 handle despite mixed results from the final manufacturing PMI prints in the euro area. With only Italian and Spanish readings surpassing estimates, the French, German and EMU releases missed the median; Germany’s PMI was the only one coming in lower than December’s.
EUR/USD levels to consider
As of writing the pair is advancing 0.27% 1.1329 and a surpass of 1.1355 (10-d MA) would open the door to 1.1364 (high Jan.30) and finally 1.1368 (high Jan.29). On the flip side, the immediate support lines up at 1.1262 (low Jan.29) ahead of 1.1261 (50% of 1.1098-1.1423) and then 1.1200 (psychological level).
EUR/USD firmer post-PMIs
The pair is looking to consolidate the recent break above the 1.1300 handle despite mixed results from the final manufacturing PMI prints in the euro area. With only Italian and Spanish readings surpassing estimates, the French, German and EMU releases missed the median; Germany’s PMI was the only one coming in lower than December’s.
EUR/USD levels to consider
As of writing the pair is advancing 0.27% 1.1329 and a surpass of 1.1355 (10-d MA) would open the door to 1.1364 (high Jan.30) and finally 1.1368 (high Jan.29). On the flip side, the immediate support lines up at 1.1262 (low Jan.29) ahead of 1.1261 (50% of 1.1098-1.1423) and then 1.1200 (psychological level).