EUR/USD through 1.1100 on PMIs

The shared currency has recovered the positive territory today, lifting EUR/USD back above the 1.1100 handle.

EUR/USD boosted by PMIs

Spot gained further traction after German and EMU’s manufacturing PMI have come in better than initially estimated for the month of June, up to 54.5 and 52.8 respectively.

The pair managed to bounce off daily lows in the 1.1080/70 band and retake the key 200-day sma in the 1.1100 neighbourhood, reverting the initial bearish mood.

Ahead in the NA session, Markit’s manufacturing PMI is due followed by the more relevant ISM Manufacturing and the speech by FOMC’S L.Mester.

EUR/USD levels to watch

The pair is now up 0.01% at 1.1105 facing the next hurdle at 1.1155 (high Jun.30) followed by 1.1235 (20-day sma) en route to 1.1276 (55-day sma). On the flip side, a break below 1.0913 (post-Brexit low Jun.24) would open the door to 1.0820 (low Mar.10) and finally 1.0709 (low Jan.5).