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3 Aug 2015
EUR/USD regains 1.0980 on ISM
FXStreet (Edinburgh) - The single currency has left session lows near 1.0940 vs. the greenback and pushed EUR/USD back to the 1.0980 area following the lacklustre US ISM result.
EUR/USD trims losses on US data
The pair regained the 1.0980 area after an early release of the US ISM Manufacturing showed a drop to 52.7 for the month of July vs. 53.5 previously estimated. According to the release, ISM Manufacturing Employment fell to multi-month lows at 52.7 vs. 54.7 forecasted, dragging the broader index lower. In another direction, the ‘New Orders’ component ticked higher to 56.5 vs. June’s 56.0.
Still in the manufacturing sector, July’s PMI gauged by Markit came in at 53.8, matching both expectations and previous print.
EUR/USD levels to watch
As of writing the pair is retreating 0.08% at 1.0976 with the next support at 1.0921 (low Jul.31) followed by 1.0893 (low Jul.30) and finally 1.0811 (low Jul.11). On the flip side, a breakout of 1.0997 (high Aug.3) would target 1.1080 (high Jul.29) en route to 1.1113 (high Jul.31).
EUR/USD trims losses on US data
The pair regained the 1.0980 area after an early release of the US ISM Manufacturing showed a drop to 52.7 for the month of July vs. 53.5 previously estimated. According to the release, ISM Manufacturing Employment fell to multi-month lows at 52.7 vs. 54.7 forecasted, dragging the broader index lower. In another direction, the ‘New Orders’ component ticked higher to 56.5 vs. June’s 56.0.
Still in the manufacturing sector, July’s PMI gauged by Markit came in at 53.8, matching both expectations and previous print.
EUR/USD levels to watch
As of writing the pair is retreating 0.08% at 1.0976 with the next support at 1.0921 (low Jul.31) followed by 1.0893 (low Jul.30) and finally 1.0811 (low Jul.11). On the flip side, a breakout of 1.0997 (high Aug.3) would target 1.1080 (high Jul.29) en route to 1.1113 (high Jul.31).