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EUR/USD ignored mixed PMI data out of EMU countries

FXStreet (Moscow) - EUR/USD stayed at 1.2640 before the key PMI data out of German, and the EMU, and hardly moved on the release.

PMI is out

The Service sector of the euro zone started to disappoint from the very beginning, as even Spanish data came out below forecasts, although Manufacturing Index was much better than expected. Italy and France followed the trend. However, German PMI came out at 55.7 vs 55.4 expected printing 3-month high, and confirming the largest European economy is still doing well. The pair showed a small spike to 1.2651 on the release, but soon retreated back below 1.2640 area. Overall, the EMU Service PMI was worse than expected at 52.4 vs 52.8 confirming that Germany alone is not enough to keep the economy moving.

What are today’s key EUR/USD levels?

Today's central pivot point can be found at 1.2661, with support below at 1.2622, 1.2575, and 1.2536, with resistance above at 1.2708, 1.2747 and 1.2794. Hourly Moving Averages are mixed, with the 200SMA bearish at 1.2718 and the daily 20EMA bearish at 1.2831. Hourly RSI is bearish at 45.

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