3 Feb 2014
EUR/USD climbs above 1.3500 to day highs
FXStreet (Córdoba) - The EUR/USD caught a bid tone during the European session and climbed to fresh daily highs above 1.3500 following solid Eurozone data.
The Eurozone manufacturing PMI rose to 54.0 in December against 52.7 the previous month and 53.9 expected, while separated data showed the bloc's Q3 budget deficit fell to 3.1% of the GDP, its lowest in 5 years. The EUR/USD managed to bounce from a 2-month low of 1.3476 scored earlier and reached a high of 1.3518 in recent dealings. At time of writing, the pair is trading at the 1.3510 zone, recording a 0.2% gain after a 4-day losing streak.
EUR/USD levels to watch
As for technical levels, the EUR/USD could find immediate resistances at 1.3530 (50-hour SMA), 1.3570 (Jan 31 high) and 1.3600 (psychological level). On the downside, supports are seen at 1.3476 (Feb 3 low), 1.3460 (Nov 22 low) and 1.3415 (Nov 20 low).
The Eurozone manufacturing PMI rose to 54.0 in December against 52.7 the previous month and 53.9 expected, while separated data showed the bloc's Q3 budget deficit fell to 3.1% of the GDP, its lowest in 5 years. The EUR/USD managed to bounce from a 2-month low of 1.3476 scored earlier and reached a high of 1.3518 in recent dealings. At time of writing, the pair is trading at the 1.3510 zone, recording a 0.2% gain after a 4-day losing streak.
EUR/USD levels to watch
As for technical levels, the EUR/USD could find immediate resistances at 1.3530 (50-hour SMA), 1.3570 (Jan 31 high) and 1.3600 (psychological level). On the downside, supports are seen at 1.3476 (Feb 3 low), 1.3460 (Nov 22 low) and 1.3415 (Nov 20 low).