1 Jul 2015
EUR/USD challenges 1.1100 on PMIs
FXStreet (Edinburgh) - The single currency remains on the back footing on Wednesday, now dragging EUR/USD to test the key support at 1.1100 the figure.
EUR/USD weaker on mixed PMIs
Mixed results from the final manufacturing PMI prints in the euro area during June gave the pair no reason to revert the prevailing softness, which continues to hover over the 1.1100 handle.
On the Greek front and following the recent default on the IMF repayment, today’s Eurogroup teleconference has been postponed for later in the evening, around 5pm Brussels time. Spot will remain under scrutiny nonetheless, as key releases are due across the pond: ADP report and the ISM Manufacturing.
EUR/USD levels to consider
The pair is now retreating 0.27% at 1.1107 and a breach of 1.1087 (low Jun.8) would open the door to 1.1049 (low Jun.5) and finally 1.0955 (low Jun.29). On the flip side, the initial up barrier aligns at 1.1234 (high Jun.24) followed by 1.1244 (high Jun.30) and finally 1.1278 (high Jun.29).
EUR/USD weaker on mixed PMIs
Mixed results from the final manufacturing PMI prints in the euro area during June gave the pair no reason to revert the prevailing softness, which continues to hover over the 1.1100 handle.
On the Greek front and following the recent default on the IMF repayment, today’s Eurogroup teleconference has been postponed for later in the evening, around 5pm Brussels time. Spot will remain under scrutiny nonetheless, as key releases are due across the pond: ADP report and the ISM Manufacturing.
EUR/USD levels to consider
The pair is now retreating 0.27% at 1.1107 and a breach of 1.1087 (low Jun.8) would open the door to 1.1049 (low Jun.5) and finally 1.0955 (low Jun.29). On the flip side, the initial up barrier aligns at 1.1234 (high Jun.24) followed by 1.1244 (high Jun.30) and finally 1.1278 (high Jun.29).