EURUSD Movement
For the 24 hours to 23:00 GMT, the EUR declined 0.24% against the USD and closed at 1.0965.
In economic news, Euro-zone’s final manufacturing PMI contracted to a level of 47.0 in August, meeting market consensus and confirming the preliminary print. In the prior month, the PMI had recorded a level of 46.5.
Separately, in Germany, the final Markit manufacturing PMI rose to a level of 43.5 in August, while market participants and preliminary figures had indicated an increase to a level of 43.6. In the prior month, manufacturing PMI had recorded a level of 43.2.
In the Asian session, at GMT0300, the pair is trading at 1.0934, with the EUR trading 0.28% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.0912, and a fall through could take it to the next support level of 1.0891. The pair is expected to find its first resistance at 1.0974, and a rise through could take it to the next resistance level of 1.1015.
Looking forward, traders would keep an eye on Euro-zone’s producer price index for July, slated to release in a few hours. Later in the day, the US Markit manufacturing PMI and ISM manufacturing index, both for August along with construction spending data for July, will garner significant amount of investors’ attention.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
