EUR/USD turns positive near 1.1400 on PMIs

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 1, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The single currency is posting meagre gains vs. the greenback on Friday, taking EUR/USD to the area of 1.1390/1.1400.

    EUR/USD propped up by PMIs, Payrolls eyed

    Positive results from final manufacturing PMIs for the month of March in both Germany and the euro area have lent extra support to EUR during the European morning, now trading closer to the key barrier at the 1.1400 handle.

    Ahead in the day, US Non-farm Payrolls will take centre stage, seconded by ISM Manufacturing, Markit’s manufacturing PMI and the Reuters Michigan index.

    EUR/USD levels to watch

    The pair is now up 0.11% at 1.1394 facing the next resistance at 1.1412 (2016 high Mar.31) ahead of 1.1496 (monthly high Oct.15 2015) and the 1.1713 (high Aug.24 2015). On the downside, a break below 1.1198 (20-day sma) would target 1.1142 (low Mar.24) en route to 1.1043 (200-day sma).

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