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EUR/USD in lows near 1.2520

FXStreet (Edinburgh) - The single currency is now suffering the better tone around the US dollar, dragging EUR/USD to test intraday lows near 1.2525/20.

EUR/USD focus on PMIs

After a brief spike to the 1.2600 handle post-FOMC minutes on Wednesday, spot came back to normality and traded mostly around the mid-1.2500s overnight, losing the grip ahead of the opening bell in Europe. In the data front, flash manufacturing and services PMI prints are due in Euroland ahead of the advance Consumer Confidence in the region for the month of November. After yesterday’s FOMC minutes, US CPI figures have now grown in importance, with consensus expecting consumer prices to have risen at annual pace of 1.6% during October, a tad lower than the 1.7% previous.

EUR/USD levels to watch

As of writing the pair is down 0.05% at 1.2535 with the immediate support at 1.2513 (low Nov.19) ahead of 1.2487 (10-d MA) and finally 1.241 (200-h MA). On the upside, a breakout of 1.2596 (30-d MA) would aim for 1.2602 (high Nov.19) and then 1.2614 (low Oct.23).

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