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21 May 2015
EUR/USD keeps gains circa 1.1150
FXStreet (Mumbai) - The shared trimmed gains, albeit the bid tone remains intact against the American dollar, with EUR/USD keeping the range around 1.1150 levels. The major keeps gains largely on the back of extended post-FOMC minutes US dollar weakness across the board while above estimates EZ manufacturing PMI continues to underpin.
EUR/USD retreat from 1.1173 highs
The EUR/USD pair trades 0.50% at 1.1151, having failed to breach 1.1180 support-turned resistance. EUR/USD remains in green, easing off fresh session highs at 1.1173, as the US dollar was ran through fresh sellers in the mid-European session as traders continue to digest Fed minutes and its implications on the greenback.
While markets also cheered manufacturing sectors' results across the euro zone which pointed to faster development in May.
The flash manufacturing PMI for the euro zone came in at 52.3 points in May, compared to 52.0 in April. Analysts had bet on a higher reading of 51.8 points. The region's services PMI maintained healthy expansion, with the flash reading booking 53.3 points in the measured month, down from 54.1 a month ago, and below estimates of 53.9 points.
Meanwhile, traders await ECB account of its most recent monetary-policy meeting on April 15. While markets also keep a watchful eyes on Greece headline ahead of the EU summit commencing later today.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1180 levels, above which gains could be extended to 1.1200 levels. On the flip side, support is seen at 1.1081 (Today’s Low) below which it could extend losses to 1.1063 (May 20 Low) levels.
EUR/USD retreat from 1.1173 highs
The EUR/USD pair trades 0.50% at 1.1151, having failed to breach 1.1180 support-turned resistance. EUR/USD remains in green, easing off fresh session highs at 1.1173, as the US dollar was ran through fresh sellers in the mid-European session as traders continue to digest Fed minutes and its implications on the greenback.
While markets also cheered manufacturing sectors' results across the euro zone which pointed to faster development in May.
The flash manufacturing PMI for the euro zone came in at 52.3 points in May, compared to 52.0 in April. Analysts had bet on a higher reading of 51.8 points. The region's services PMI maintained healthy expansion, with the flash reading booking 53.3 points in the measured month, down from 54.1 a month ago, and below estimates of 53.9 points.
Meanwhile, traders await ECB account of its most recent monetary-policy meeting on April 15. While markets also keep a watchful eyes on Greece headline ahead of the EU summit commencing later today.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1180 levels, above which gains could be extended to 1.1200 levels. On the flip side, support is seen at 1.1081 (Today’s Low) below which it could extend losses to 1.1063 (May 20 Low) levels.