EUR/USD recovered from session lows after services sector activities expanded across the Euro area economies with France bucking the trend.
EUR/USD recovers from 1.1437 levels
The EUR/USD erased partial losses and traded at 1.1471 levels, post the PMI data release.. EUR/USD rebounded from session lows and traded slightly lower after services sector expanded in Germany to a three month high and that of Euro zone expanded to a six month high. Also Italian services sectors showed signs of recovery, while Spain’s services PMI showed a fifteenth straight month of expansion.
However, the EUR/USD remains below 1.15 levels and remains pressured ahead of EMU retails sales data due out shortly.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1500 levels, above which gains could be extended to 1.1534 (Feb 3 High) levels. On the flip side, support is seen at 1.1400 levels, below which it could extend losses to 1.1316 (Jan 22 Low).
EUR/USD recovers from 1.1437 levels
The EUR/USD erased partial losses and traded at 1.1471 levels, post the PMI data release.. EUR/USD rebounded from session lows and traded slightly lower after services sector expanded in Germany to a three month high and that of Euro zone expanded to a six month high. Also Italian services sectors showed signs of recovery, while Spain’s services PMI showed a fifteenth straight month of expansion.
However, the EUR/USD remains below 1.15 levels and remains pressured ahead of EMU retails sales data due out shortly.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1500 levels, above which gains could be extended to 1.1534 (Feb 3 High) levels. On the flip side, support is seen at 1.1400 levels, below which it could extend losses to 1.1316 (Jan 22 Low).
