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1 Apr 2015
EUR/USD: back above 1.0750 on upbeat PMI reports
FXStreet (Mumbai) - The EUR/USD pair rose to 1.0750 levels on the back of a better-than-expected German and Eurozone manufacturing PMI reports for March.
EUR/USD: Hovers near key Fibo level
The pair recovered from the pre-PMI low of 1.0741 to trades closer to 1.0755, which is the 50% Fib retracement of 1.0461-1.1050. The shared currency was buoyed by German manufacturing PMI rising to an 11-month high in March. This was followed by the Eurozone PMI for March, which surpassed estimates to print at 52.2.
The pair clocked a post-PMI high of 1.0758, before inching lower to 1.0749 as the EUR is once again being offered above 1.0750 levels.
EUR/USD Technical Levels
The immediate resistance is seen at 1.0790, above which gains could be extended to 1.0825. On the flip side, failure to sustain above 1.0750 could push the pair back to 1.07 levels.
EUR/USD: Hovers near key Fibo level
The pair recovered from the pre-PMI low of 1.0741 to trades closer to 1.0755, which is the 50% Fib retracement of 1.0461-1.1050. The shared currency was buoyed by German manufacturing PMI rising to an 11-month high in March. This was followed by the Eurozone PMI for March, which surpassed estimates to print at 52.2.
The pair clocked a post-PMI high of 1.0758, before inching lower to 1.0749 as the EUR is once again being offered above 1.0750 levels.
EUR/USD Technical Levels
The immediate resistance is seen at 1.0790, above which gains could be extended to 1.0825. On the flip side, failure to sustain above 1.0750 could push the pair back to 1.07 levels.