Services PMI in sight
Christophe Chevalier August 5, 2020 6:41 AM
Final reading of July Markit Services PMI will be published later today.
Today is Services PMI Day as final reading of July Markit Services PMI will be published for the Eurozone (55.1 expected), for Germany (56.7 expected), for France (57.8 expected), for the U.K. (56.6 expected) and for the U.S. (49.6 expected). June Retails Sales will also be due for Europe, expected at 5.9%% on month.
From a technical point of view, on a daily chart, EUR/USD remains on the upside and is supported by its rising 50-period moving average (in blue). Readers may therefore consider the potential for further rise above support at 1.1490. The nearest threshold would be set at horizontal resistance at 1.2000 and a second one would be set at 1.2130 in extension.
Source: TradingView, GAIN Capital
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