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EUR/USD surpasses 1.2700

FXStreet (Edinburgh) - EUR/USD is hovering over the 1.2705/1.2710 band on Monday, following the releases in the US economy.

EUR/USD mostly indifferent post-data

Spot is looking firmer now, extending the bounce off the 1.2660 area to another challenge of intraday peaks beyond 1.2700 the figure. The pair gained further impulse after the Services PMI measured by Markit came in below estimates at 57.3 for the month of October vs. 58.0 forecasted, while Pending Home Sales expanded at a monthly pace of 0.3%, below the 0.5% expected. “Despite opening higher this morning, the outlook for this pair is still mixed. Allow for a test of 1.2710 but 1.2735/40 is expected to cap for a pull-back towards 1.2660”, noted analysts at UOB Group.

EUR/USD relevant levels

The pair is now up 0.25% at 1.2702 with the next resistance at 1.2723 (10-d MA) followed by 1.2730 (200-h MA) and finally 1.2740 (high Oct.22). On the downside, a break below 1.2635 (low Oct.24) would expose 1.2614 (low Oct.23) and then 1.2605 (low Oct.10).

Treasury yields slide on weak US data

The yields across the short end and the long end of the treasury market curve declined after the disappointing US services PMI data and the Pending home sales data hit the wires.
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