24 Jul 2013
EUR/USD in red around 1.3200, PMI eyed
FXstreet.com (Edinburgh) -The single currency is hovering over the key mark at 1.3200 on Wednesday, driving the EUR/USD lower after the poor manufacturing PMI from china.
EUR/USD vs. PMI
Risk aversion took over market sentiment after the Chinese manufacturing PMI sponsored by HSBC came in softer that expected for the month of July, consolidating now below the 50 threshold. Ahead in the day, the pair looks set to remain in centre stage as France, Germany and the bloc as a whole will release its advanced PMI results, looking to extend somehow the recent improvement of the EMU fundamentals.
EUR/USD levels to watch
At the moment the pair is down 0.15% en 1.3203 with the next support at 1.3164 (low Jul.23) followed by 1.3115 (low Jul.22) and finally 1.3106 (cloud base). On the flip side, a break above1.3255 (high Jun.21) would open the door to 1.3261 (76.4% of 1.3417-1.2755) and then 1.3302 (high Jun.20).
EUR/USD vs. PMI
Risk aversion took over market sentiment after the Chinese manufacturing PMI sponsored by HSBC came in softer that expected for the month of July, consolidating now below the 50 threshold. Ahead in the day, the pair looks set to remain in centre stage as France, Germany and the bloc as a whole will release its advanced PMI results, looking to extend somehow the recent improvement of the EMU fundamentals.
EUR/USD levels to watch
At the moment the pair is down 0.15% en 1.3203 with the next support at 1.3164 (low Jul.23) followed by 1.3115 (low Jul.22) and finally 1.3106 (cloud base). On the flip side, a break above1.3255 (high Jun.21) would open the door to 1.3261 (76.4% of 1.3417-1.2755) and then 1.3302 (high Jun.20).