2 Dec 2013
EUR/USD stabilizing around 1.3600
FXstreet.com (Edinburgh) - The EUR/USD managed to regain the 1.3600 handle overnight on Monday, ahead of the final figures for the manufacturing PMIs in the 17-nation region.
EUR/USD bounces off 1.3580
After bottoming out in the area of 1.3580 last Friday, the pair gathered steam and advanced to the key level at 1.3600, bolstered by Chinese HSBC PMI results above estimates during November (50.8 vs. 50.5 exp.), albeit a tad lower than October’s reading at 50.9. The rest of the day will be marked by the manufacturing PMI releases in the euro area, while the speech by Fed’s Bernanke and the ISM Manufacturing will be in the limelight across the pond. “The outlook here remains unchanged, as the pair is still heading for a tight test of 1.3650 major resistance. Key support on the downside is 1.3558”, noted Stoyan Mihaylov, Analyst at DeltaStock.com.
EUR/USD key levels
As of writing, the pair is up 0.12% at 1.3602 with the next resistance at 1.3619 (high Nov.28) ahead of 1.3628 (61.8% of 1.3833-1.3295) and then 1.3647 (daily cloud top). On the downside, a break below 1.3564 (low Nov.28) would aim for 1.3558 (low Nov.27) and finally 1.3529 (MA10d).
EUR/USD bounces off 1.3580
After bottoming out in the area of 1.3580 last Friday, the pair gathered steam and advanced to the key level at 1.3600, bolstered by Chinese HSBC PMI results above estimates during November (50.8 vs. 50.5 exp.), albeit a tad lower than October’s reading at 50.9. The rest of the day will be marked by the manufacturing PMI releases in the euro area, while the speech by Fed’s Bernanke and the ISM Manufacturing will be in the limelight across the pond. “The outlook here remains unchanged, as the pair is still heading for a tight test of 1.3650 major resistance. Key support on the downside is 1.3558”, noted Stoyan Mihaylov, Analyst at DeltaStock.com.
EUR/USD key levels
As of writing, the pair is up 0.12% at 1.3602 with the next resistance at 1.3619 (high Nov.28) ahead of 1.3628 (61.8% of 1.3833-1.3295) and then 1.3647 (daily cloud top). On the downside, a break below 1.3564 (low Nov.28) would aim for 1.3558 (low Nov.27) and finally 1.3529 (MA10d).