24 Jul 2013
EUR/USD stable at 1.3240 session highs
FXstreet.com (Barcelona) - EUR/USD is holding stable at the sessions highs after bullish EZ data.
France Markit Manufacturing PMI (Jul) came in 49.8 vs 48.8 consensus and up on previous 48.4. France Markit Services PMI (Jul) came in at 48.3 vrs 47.7 consensus and up on previous 47.2. German Markit Manufacturing PMI (Jul) came in at 50.3 vs consensus 49.4 and up on previous 48.6, while Markit Services PMI (Jul) came in at 52.5 vs 50.8 and up on previous 50.4. EZ Markit PMI’s also improved in similar fashion, fulfilling an overall bullish picture in these sectors for the EZ. The markets will now look to US data in the afternoon with New Home Sales and Markit Manufacturing PMI most n focus.
EUR/USD eyes 1.3275
EUR/USD is targeting the 78.6% Fibonacci retracement at 1.3275. While the pair are trading in the current ranges above 1.3000, the pair can continue to drift higher although a break below the psychological level, that may come in depending on US data, in the main, would otherwise open up the bears appetites for the April lows and more recent quotes in the broader ranges at 1.2755/40. 1.3400 is between he 200d ma and June highs and act as key resistance to the upside.
France Markit Manufacturing PMI (Jul) came in 49.8 vs 48.8 consensus and up on previous 48.4. France Markit Services PMI (Jul) came in at 48.3 vrs 47.7 consensus and up on previous 47.2. German Markit Manufacturing PMI (Jul) came in at 50.3 vs consensus 49.4 and up on previous 48.6, while Markit Services PMI (Jul) came in at 52.5 vs 50.8 and up on previous 50.4. EZ Markit PMI’s also improved in similar fashion, fulfilling an overall bullish picture in these sectors for the EZ. The markets will now look to US data in the afternoon with New Home Sales and Markit Manufacturing PMI most n focus.
EUR/USD eyes 1.3275
EUR/USD is targeting the 78.6% Fibonacci retracement at 1.3275. While the pair are trading in the current ranges above 1.3000, the pair can continue to drift higher although a break below the psychological level, that may come in depending on US data, in the main, would otherwise open up the bears appetites for the April lows and more recent quotes in the broader ranges at 1.2755/40. 1.3400 is between he 200d ma and June highs and act as key resistance to the upside.