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EUR/USD keeps lows around 1.1140 on PMIs

FXStreet (Edinburgh) - The shared currency remains entrenched in the negative territory in the second half of the week, taking EUR/USD to the mid-1.1100s so far.

EUR/USD lower on risk-on trade

Auspicious prints from the Chinese manufacturing PMI have sparked a wave of risk appetite early in the day, hurting the demand for EUR and prompting spot to extend the ongoing correction lower to the 1.1140/35 band.

The final figures of the manufacturing PMIs in Euroland for the month of September have come in mixed today, intensifying the downside pressure on the pair.

In the data space, the ISM Manufacturing is taking centre stage across the pond, seconded by Markit’s manufacturing PMI, Initial Claims and the speech by FOMC member Williams.

EUR/USD levels to watch

As of writing the pair is losing 0.27% at 1.1143 and a breakdown of 1.1116 (low Sep.25) would aim for 1.1105 (low Sep.22) and then 1.1057 (low Aug.12). On the other hand, the initial resistance aligns at 1.1260 (high Sep.30) ahead of 1.1281 (high Sep.29) and finally 1.1296 (high Sep.24).

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