You are not logged in.
- Trader, Analyst and webmaster for Forex-Tribe
- Registered: 16-07-2008
- Posts: 37786
- Reputation : 0
Share this topic :
EUR/USD: Euro rose on positive data from Europe & the US, trading lower this morning
Separately, in the Euro-zone, final manufacturing PMI rose to 47.9 in January, from a reading of 46.1 in December. The unemployment rate stood steady at 11.7% in December, following the downwardly revised rate of 11.7% in November. Meanwhile, annual inflation eased to 2.0% in January, from 2.2% in December.
Separately, Germany’s seasonally adjusted manufacturing PMI rose to a reading of 49.8 in January, from a reading of 46.0 in December.
In the Asian session, at GMT0400, the pair is trading at 1.3621, with the EUR trading 0.31% lower from Friday’s close.
The pair is expected to find support at 1.3567, and a fall through could take it to the next support level of 1.3512. The pair is expected to find its first resistance at 1.3694, and a rise through could take it to the next resistance level of 1.3766.
Euro-zone economic releases later today include the Sentix investor confidence and the producer price index data, while in the US, December factory orders are awaited.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.