EURUSD awaiting key manufacturing data
The euro is starting to move higher against the US dollar in early Thursday trade, ahead of the release of key eurozone PMI manufacturing data later this morning. Weaker than expected PMI data from the French and German economies will likely reverse the EURUSD pairs recent recovery, with the 1.1335 level the key support level to watch. The 1.1410 level is the immediate resistance bulls need to break to encourage further technical buying.
The EURUSD pair is only bearish while trading below the 1.1360 level, key technical support is found at the 1.1335 and 1.1300 levels.
If the EURUSD pair holds above the 1.1380 level, buyers may test towards the 1.1410 and 1.1450 resistance levels.