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2 Nov 2015
EUR/USD uninspired by US PMIs
FXStreet (Córdoba) - EUR/USD edged a few pips down but overall remained little changed within its recent range following the release of better than expected US PMIs data.
The Institute for Supply Management (ISM) manufacturing index dipped to 50.1 in October from 50.2 the previous month, but came in above the 50.0 expected. Still the reading was the lowest since May 2013. Meanwhile, construction spending rose by 0.6% in September versus a 0.5% increase expected.
EUR/USD slid to the 1.1025 area but the dollar failed to hold gains amid lackluster readings. At time of writing, the pair was trading at 1.1038, still up 0.38% on the day.
EUR/USD technical levels
In terms of technical levels, on the upside, immediate resistances are seen at 1.1071 (Oct 30 high), 1.1095 (Oct 28 high) and then 1.1110 (200-day SMA). On the other hand, supports might be found at 1.0965 (Oct 30 low), 1.0896 (Oct 28 low) and 1.0847 (Aug monthly low).
The Institute for Supply Management (ISM) manufacturing index dipped to 50.1 in October from 50.2 the previous month, but came in above the 50.0 expected. Still the reading was the lowest since May 2013. Meanwhile, construction spending rose by 0.6% in September versus a 0.5% increase expected.
EUR/USD slid to the 1.1025 area but the dollar failed to hold gains amid lackluster readings. At time of writing, the pair was trading at 1.1038, still up 0.38% on the day.
EUR/USD technical levels
In terms of technical levels, on the upside, immediate resistances are seen at 1.1071 (Oct 30 high), 1.1095 (Oct 28 high) and then 1.1110 (200-day SMA). On the other hand, supports might be found at 1.0965 (Oct 30 low), 1.0896 (Oct 28 low) and 1.0847 (Aug monthly low).