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1 Sep 2015
EUR/USD uninspired by US data
FXStreet (Córdoba) - EUR/USD edged higher but overall it remained little changed following the release of softer-than-expected US ISM manufacturing PMI, in line with weak readings around the globe, and stronger than expected construction data.
US ISM manufacturing PMI came in at 51.1 in August, down from 52.7 the previous month and below the 52.6 expected. Meanwhile, construction spending rose by 0.7% in July, exceeding expectations of a 0.6% increase.
EUR/USD spiked to a session high of 1.1280 in the aftermath, but failed to pick up momentum and continued to trade near pre-data levels. At time of writing, the pair is trading at 1.1266, still 0.51% above its opening price.
EUR/USD key levels
In terms of technical levels, next resistances are seen at 1.1298/1.1300 (200-day SMA/psychological level), 1.1331 (Sep 1 high) and 1.1364 (Aug 27 high). On the downside, supports line up at 1.1207 (Sep 1 low), 1.1167 (Aug 31 low) and then 1.1155 (Aug 28 low).
US ISM manufacturing PMI came in at 51.1 in August, down from 52.7 the previous month and below the 52.6 expected. Meanwhile, construction spending rose by 0.7% in July, exceeding expectations of a 0.6% increase.
EUR/USD spiked to a session high of 1.1280 in the aftermath, but failed to pick up momentum and continued to trade near pre-data levels. At time of writing, the pair is trading at 1.1266, still 0.51% above its opening price.
EUR/USD key levels
In terms of technical levels, next resistances are seen at 1.1298/1.1300 (200-day SMA/psychological level), 1.1331 (Sep 1 high) and 1.1364 (Aug 27 high). On the downside, supports line up at 1.1207 (Sep 1 low), 1.1167 (Aug 31 low) and then 1.1155 (Aug 28 low).