24 Jul 2015
EUR/USD keeps range around 1.0950 on EZ PMIs
FXStreet (Mumbai) - The shared currency keeps losses versus the US dollar in the European morning, with EUR/USD miring near 1.0950 levels. The major remains undermined after flash manufacturing PMIs across the Euro zone disappointed markets.
EUR/USD drops from 1.0994
The EUR/USD pair trades -0.36% lower at 1.0947, recovering slightly from session lows reached at 1.0937 last hours. The offered tone around the EUR/USD pair remains intact as markets were left unimpressed by a series of below estimates manufacturing PMI reports across the Euro area economies as well as the EU bloc as a whole.
The latest flash manufacturing PMI for the euro zone came in at 52.2 points in July, compared to 52.5 in June. Markets had bet on a reading of 52.5 points. Moreover, the closely-watched composite PMI came in at 53.7 points, compared to 54.2 in June.
Looking ahead, markets now await US new home sales and manufacturing PMI report due later in the US session for further direction on the pair.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.0996 (Today’s High) levels, above which gains could be extended to 1.1019 (July 23 High) levels. On the flip side, support is seen at 1.0920 (July 23 Low) below which it could extend losses to 1.0869 (July 22 Low) levels.
EUR/USD drops from 1.0994
The EUR/USD pair trades -0.36% lower at 1.0947, recovering slightly from session lows reached at 1.0937 last hours. The offered tone around the EUR/USD pair remains intact as markets were left unimpressed by a series of below estimates manufacturing PMI reports across the Euro area economies as well as the EU bloc as a whole.
The latest flash manufacturing PMI for the euro zone came in at 52.2 points in July, compared to 52.5 in June. Markets had bet on a reading of 52.5 points. Moreover, the closely-watched composite PMI came in at 53.7 points, compared to 54.2 in June.
Looking ahead, markets now await US new home sales and manufacturing PMI report due later in the US session for further direction on the pair.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.0996 (Today’s High) levels, above which gains could be extended to 1.1019 (July 23 High) levels. On the flip side, support is seen at 1.0920 (July 23 Low) below which it could extend losses to 1.0869 (July 22 Low) levels.