EURUSD LOOKS TO EUROZONE MANUFACTURING DATA

The EURUSD pair continues to trade in a tight range between 1.1140 and 1.1170, ahead of the release of key Eurozone purchasing manufacturing data for the month of June.

As the Eurozone recovery gathers pace, expectations are high for solid June manufacturing numbers, with figures well above the expansionary 50 reading forecasted from the German, French and Italian economies.

In the short term, the EURUSD remains neutral, with the pair trading above the calculated daily pivot point at 1.1155, but below crucial resistance at 1.1166.

In the medium term, the euro has three consecutive higher daily price low's in place, this dynamic may support further technical buying in the pair.

To the upside, technical levels for the EURUSD remain 1.1166 and 1.1180, with the 1.1208 level key intraday resistance.

Support for the EURUSD is located at 1.1148 and 1.1132, with the 1.1098 level acting as critical intraday support.