EUR/USD remains bullish ahead of European PMIs

Currency exchange rate board of multiple currencies
Later today, Research firm Markit will publish preliminary readings of November Manufacturing PMI for the eurozone (54.2 expected), Germany (57.3 expected) and France (49.9 expected). Also, the preliminary readings of November Services PMI for the eurozone (44.1 expected), Germany (47.5 expected) and France (39.0 expected) will be published.

From a technical point of view, on a daily chart, EUR/USD still stands above its 50-day moving average (in blue). Readers may therefore consider the potential for further advance above 1.1605. The nearest threshold would be set at September top at 1.2015 and a second one would be set at previous overlap at 1.2150.

Source: TradingView, GAIN Capital


Related tags: EUR Forex Forex

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