© O Financista. EUR/USD hesitates in the face of the PMI, French and German
Investing.com – The PMI manufacturing index German spring today under the consensus, at 47.6 points, compared to 50 in advance and 49.7 previously.
The services index is apparent to the above expectations, to 55.1 points versus 52.8 expected and 53 previously.
The indices of France, published just before, have posted a no-fault to 51.4 points for the manufacturing PMI, down from 51 in advance and 51.2 above, for an index of services at 49.8, versus 49.1 expected and 47.8 previously.
On the forex, it will be noted that the increase of the EUR/USD pair began following the publication of French figures, with a peak at 1.1363 after a low of 1.1320 before that, is restrained following figures German mixed.
From a graphical point of view, the next potential barriers are located on the top of the uptrend channel visible in the hourly data at 1.1380, and then on the psychological threshold of 1.14.
Has the decline, the low of yesterday at 1.1334, the moving average 100 hours at 1.1318, the moving average 200 hours to 1.1306, and the psychological threshold of 1.13 are an important resistance zone, under which we may consider that a bearish reversal is in place.
Finally, it should be noted that the PMI indexes for the euro area as a whole will be published at 10am.
The last event in the economic calendar european will then be expected to 13.30, with the Minutes of the last meeting of the ECB’s monetary policy.
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