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EUR/USD tests 1.2500 post-PMIs

FXStreet (Edinburgh) - The offered tone accelerated around the EUR on Thursday, pushing EUR/USD to the vicinity of the critical support at 1.2500.

EUR/USD softer on poor PMIs

Spot remains in session lows after flash manufacturing and services PMIs in Germany and the EMU disappointed investors today, missing estimates and coming in lower than October readings. The pair is almost losing a big figure since the spike to 1.2600 post-FOMC minutes on Wednesday amidst renewed selling pressure. Ahead in the day, US inflation figures, the weekly report on the labour market and Markit’s manufacturing PMI will be on focus in the US economy.

EUR/USD levels to consider

As of writing the pair is losing 0.25% at 1.2511 with the immediate support at 1.2485 (10-d MA) ahead of 1.2483 (200-h MA) and finally 1.2442 (low Nov.18). 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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