23 Jan 2014
EUR/USD breaches 1.3600 on better PMI
FXstreet.com (Edinburgh) - The EUR/USD is now trading beyond 1.3600 the figure after better-than-expected PMI prints from the French economy.
EUR/USD breaks above MA100d
The pair managed to break above the key barrier around 1.3570/75 (100-day moving average), which demonstrated to be a tough resistance in past sessions, after both flash manufacturing and services PMIs in France exceeded estimates at 48.8 and 48.6, respectively. Ahead in the day, German and EMU PMIs are due, along with the likeliness of further strength in the EUR.
EUR/USD levels to watch
At the moment the pair is advancing 0.39% at 1.3601 with the next resistance at 1.3604 (Tenkan Sen line) followed by 1.3614 (MA55d) and then 1.3621 (high Jan.17). On the downside, a break below 1.3530 (low Jan.23) would open the door to 1.3517 (low Jan.21) and finally 1.3508 (2014 low Jan.20).
EUR/USD breaks above MA100d
The pair managed to break above the key barrier around 1.3570/75 (100-day moving average), which demonstrated to be a tough resistance in past sessions, after both flash manufacturing and services PMIs in France exceeded estimates at 48.8 and 48.6, respectively. Ahead in the day, German and EMU PMIs are due, along with the likeliness of further strength in the EUR.
EUR/USD levels to watch
At the moment the pair is advancing 0.39% at 1.3601 with the next resistance at 1.3604 (Tenkan Sen line) followed by 1.3614 (MA55d) and then 1.3621 (high Jan.17). On the downside, a break below 1.3530 (low Jan.23) would open the door to 1.3517 (low Jan.21) and finally 1.3508 (2014 low Jan.20).