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5 Oct 2015
EUR/USD struggles around 1.1240, European stocks rise
FXStreet (Mumbai) - The EUR/USD pair is struggling to rise over and above 1.1240 levels with major European stock futures pointing to a solid start to the week.
Awaits Eurozone data
The data due later today is likely to show the Eurozone final services PMI remained around four-year high in September. Meanwhile, the sentiment in the stock markets could affect the demand for the EUR and other funding currencies.
At the moment, the German DAX futures indicate the index could open 165 points higher. France’s CAD futures are up a mere 8 points. Consequently, the EUR is being offered in the range of 1.1240-1.1250 levels. Ahead in the day, the US IS non-manufacturing PMI could affect the pair as well.
EUR/USD Technical Levels
At 1.1236, the immediate resistance is located at 1.1318 (Friday’s high), followed by a major hurdle at 1.1418 (23.6% of Mar-Aug rally). On the other side, support is seen at 1.12 and 1.1162 (200-DMA).
Awaits Eurozone data
The data due later today is likely to show the Eurozone final services PMI remained around four-year high in September. Meanwhile, the sentiment in the stock markets could affect the demand for the EUR and other funding currencies.
At the moment, the German DAX futures indicate the index could open 165 points higher. France’s CAD futures are up a mere 8 points. Consequently, the EUR is being offered in the range of 1.1240-1.1250 levels. Ahead in the day, the US IS non-manufacturing PMI could affect the pair as well.
EUR/USD Technical Levels
At 1.1236, the immediate resistance is located at 1.1318 (Friday’s high), followed by a major hurdle at 1.1418 (23.6% of Mar-Aug rally). On the other side, support is seen at 1.12 and 1.1162 (200-DMA).