22 Aug 2013
EUR/USD around 1.3340 ahead of PMIs
FXstreet.com (Edinburgh) -The single currency is trading on the back foot on Thursday, with the EUR/USD hovering over 1.3340 ahead of advanced results from manufacturing/services PMIs in the euro area.
EUR/USD weaker on FOMC
The unexpected hawkish bias from Wednesday’s FOMC minutes dragged the pair to fresh session lows around 1.3330, and keeping a tight range overnight despite the positive result from the Chinese manufacturing PMI, returning to the expansion territory. Ahead in the day, PMIs from the euro area will be in the limelight, looking to extend the cyclical recovery in the region. Across the pond, the weekly report on the laboour market and the Markit PMI will grab all the attention.
EUR/USD levels to watch
The pair is now losing 0.12% at 1.3339 with the next support at 1.3323 (low Aug.20) and then 1.3314 (low Aug.19). On the flip side, a break above 1.3427 (high Aug.21) would aim for 1.3453 (high Aug.20) and finally 1.3456 (high Feb.14).
EUR/USD weaker on FOMC
The unexpected hawkish bias from Wednesday’s FOMC minutes dragged the pair to fresh session lows around 1.3330, and keeping a tight range overnight despite the positive result from the Chinese manufacturing PMI, returning to the expansion territory. Ahead in the day, PMIs from the euro area will be in the limelight, looking to extend the cyclical recovery in the region. Across the pond, the weekly report on the laboour market and the Markit PMI will grab all the attention.
EUR/USD levels to watch
The pair is now losing 0.12% at 1.3339 with the next support at 1.3323 (low Aug.20) and then 1.3314 (low Aug.19). On the flip side, a break above 1.3427 (high Aug.21) would aim for 1.3453 (high Aug.20) and finally 1.3456 (high Feb.14).