EURUSD PMI watch
The euro currency is holding around the 1.1250 level against the US dollar, ahead of the release of key EU PMI Manufacturing data this week. Sustained weakness below the 1.1200 level should inspire a technical test of the 1.1150 support area. EURUSD traders should be aware that a breakout above the 1.1270 resistance level could result in the pair rallying towards the 1.1300 level.
The EURUSD pair is only bullish while trading above the 1.1240 level, key resistance is found at the 1.1270 and 1.1330 levels.
The EURUSD pair is only bearish while trading below the 1.1240 level, key support is found at the 1.1150 and 1.1070 levels.