23 Jan 2014
EUR/USD pushing higher to 1.3620
FXstreet.com (Edinburgh) - The EUR is keeps gathering pace, lifting the EUR/USD to fresh weekly highs beyond 1.3620 after the German PMI.
EUR/USD looks to consolidate above 1.3600
The flash manufacturing PMI in Germany surpassed both estimates and December’s print in January, coming in at 56.3 vs 54.6 and 54.3, respectively. The services PMI missed expectations at 53.6 although bettered the previous reading. Next on tap in the euro bloc will be EMU’s PMI and Current Account figures followed by the advanced Consumer Confidence result during January (-13.0 exp.).
EUR/USD levels to watch
At the moment the pair is advancing 0.53% at 1.3620 with the next resistance at 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 looks to consolidate above 1.3600
The flash manufacturing PMI in Germany surpassed both estimates and December’s print in January, coming in at 56.3 vs 54.6 and 54.3, respectively. The services PMI missed expectations at 53.6 although bettered the previous reading. Next on tap in the euro bloc will be EMU’s PMI and Current Account figures followed by the advanced Consumer Confidence result during January (-13.0 exp.).
EUR/USD levels to watch
At the moment the pair is advancing 0.53% at 1.3620 with the next resistance at 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).