EUR/USD climbs to 1.1030 on PMIs

The shared currency is looking to gather some traction after the release of PMIs in the region, with EUR/USD now testing the 1.1030 area.

EUR/USD now looks to ECB

Spot showed no significant move despite advanced PMIs in the region have surprised markets to the upside for the current month. In fact, French readings have returned to levels above the 50-threshold, while German manufacturing and services prints have bettered initial estimates and EMU's readings came in mixed.

In the meantime, the pair remains largely directionless matching the broader sentiment ahead of the speech by ECB’s B.Coeure and the release of the Survey of Professional Forecasters (SPF) by the ECB.

EUR/USD levels to watch

The pair is now up 0.04% at 1.1030 and a breakout of 1.1080 (200-day sma) would target 1.1166 (high Jul.14) en route to 1.1239 (base of the 6-month rising channel). On the downside, the next support lines up at 1.0979 (low Jul.20) followed by 1.0913 (post-Brexit low Jun.24) and then 1.0820 (low Mar.10).