23 Jan 2014
EUR/USD flat, PMIs eyed
FXstreet.com (Edinburgh) - The EUR/USD remains glued to the 1.3545/50 area on Thursday, trading almost unchanged vs. yesterday’s close and with traders waiting for the flash manufacturing/services PMIs.
EUR/USD looking for direction
The lack of a clear direction in the spot is the salient point this week so far, while the key barrier around the 100-day moving average near 1.3570/75 continues to be elusive. However, the EUR has shown some sort of stubbornness around the mid 1.35 despite the poor Chinese PMI, and could gather steam if today’s PMI prints from the euro area match the upbeat consensus, along with an improvement of the consumer confidence in the region. Across the pond, the weekly report on the labour market, the Markit PMI and housing data would be in the limelight.
EUR/USD important levels
At the moment the pair is losing just 0.01% at 1.3546 with the next support at 1.3535 (low Jan.22) followed by 1.3517 (low Jan.21) and finally 1.3508 (2014 low Jan.20). On the upside, a breakout of 1.3575 (MA100d) would expose 1.3584 (high Jan.22) and then 1.3600 (psychological level).
EUR/USD looking for direction
The lack of a clear direction in the spot is the salient point this week so far, while the key barrier around the 100-day moving average near 1.3570/75 continues to be elusive. However, the EUR has shown some sort of stubbornness around the mid 1.35 despite the poor Chinese PMI, and could gather steam if today’s PMI prints from the euro area match the upbeat consensus, along with an improvement of the consumer confidence in the region. Across the pond, the weekly report on the labour market, the Markit PMI and housing data would be in the limelight.
EUR/USD important levels
At the moment the pair is losing just 0.01% at 1.3546 with the next support at 1.3535 (low Jan.22) followed by 1.3517 (low Jan.21) and finally 1.3508 (2014 low Jan.20). On the upside, a breakout of 1.3575 (MA100d) would expose 1.3584 (high Jan.22) and then 1.3600 (psychological level).