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Aug 23 - 05:55 AM

EUR/USD - PMIs Down But EUR/USD Up

By Jeremy Boulton  —  Aug 23 - 05:28 AM
  • EUR/USD rises 1.1694-1.1733 EBS today, EUR 500 mln expiries at 1.1700

  • Pair rising from 1.1707 in wake of softer PMI data

  • German manufacturing PMI 62.7 from 65.9, composite 60.6 from 62.4

  • EZ composite PMI 59.5 in August from 60.2

  • Resistance at 1.1758 which is 38.2% from July's 1.1909 peak

  • Mid-point 20-day Bollingers at 1.1780 adds to resistance

  • Intervention may have lifted EUR/USD nL1N2PU0DC

  • Dollar is fall guy of flamboyant U.S. spending nL1N2PU0GB


EURUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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