4 Nov 2013
EUR/USD recovers to 1.3490
FXstreet.com (Edinburgh) -After dipping to session lows overnight, the EUR/USD managed to gather steam and rebound to the current area of 1.3485/90 on Monday.
EUR/USD focus on PMI
The pair remains under pressure at the beginning of the week, as the final manufacturing PMI prints are due for the month of October. Market consensus points to an overall slight improvement with the exception of the French reading (49.4 exp. Vs. 49.8 prev.). The investor confidence gauged by the Sentix index will also be in the limelight, expected to climb to 6.5 during the same period, up from 6.1. Across the pond, Factory Orders would take centre stage amidst speeches by Powell and Rosengren.
EUR/USD levels to watch
The pair is now up 0.01% at 1.3489 and a break above 1.3589 (high Nov.1) would expose 1.3641 (MA21d). On the downside, the initial support lies at 1.3472 (low Oct.16) followed by 1.3468 (50% of 1.3105-1.3833) and finally 1.3467 (low Sep.30).
EUR/USD focus on PMI
The pair remains under pressure at the beginning of the week, as the final manufacturing PMI prints are due for the month of October. Market consensus points to an overall slight improvement with the exception of the French reading (49.4 exp. Vs. 49.8 prev.). The investor confidence gauged by the Sentix index will also be in the limelight, expected to climb to 6.5 during the same period, up from 6.1. Across the pond, Factory Orders would take centre stage amidst speeches by Powell and Rosengren.
EUR/USD levels to watch
The pair is now up 0.01% at 1.3489 and a break above 1.3589 (high Nov.1) would expose 1.3641 (MA21d). On the downside, the initial support lies at 1.3472 (low Oct.16) followed by 1.3468 (50% of 1.3105-1.3833) and finally 1.3467 (low Sep.30).