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Sep 1, 2014
EUR/USD little changed after PMIs
FXStreet (Córdoba) - The EUR/USD remained immutable around the flat line following the release of a series of mainly disappointing European countries’ PMIs.
While France's manufacturing PMI came in slightly above expectations in August, Spain, Germany, Italy and the Eurozone's as a whole were lower than expected. However, the euro barely reacted to data, although it stretched to a marginal daily high of 1.3138. At time of writing, the pair is trading at 1.3135, a couple of pips above Friday's close, having bounced from a fresh 1-year low of 1.3118.
EUR/USD technical levels
As for technical levels, to the upside, immediate resistances could be found at 1.3138 (daily high/21-hour SMA), 1.3195 (Aug 29 high) and 1.3210 (10-day SMA). To the downside, supports are seen at 1.3118 (Sep 1 low), 1.3104 (Sep 6 2013 low) and 1.3100 (psychological level).
While France's manufacturing PMI came in slightly above expectations in August, Spain, Germany, Italy and the Eurozone's as a whole were lower than expected. However, the euro barely reacted to data, although it stretched to a marginal daily high of 1.3138. At time of writing, the pair is trading at 1.3135, a couple of pips above Friday's close, having bounced from a fresh 1-year low of 1.3118.
EUR/USD technical levels
As for technical levels, to the upside, immediate resistances could be found at 1.3138 (daily high/21-hour SMA), 1.3195 (Aug 29 high) and 1.3210 (10-day SMA). To the downside, supports are seen at 1.3118 (Sep 1 low), 1.3104 (Sep 6 2013 low) and 1.3100 (psychological level).