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6 Jan 2015
EUR/USD uninspired by cheerful Spain Services PMI
FXStreet (Mumbai) - The single currency remained little changed against the US dollar after an improved Spain’s services sector data, erasing gains from the Asian session .
Currently, the EUR/USD pair trades flat at 1.1924 levels, after having posted day’s high at 1.1969 levels earlier in the day. EUR/USD remains unchanged after the Spanish services PMI readings showed that the country’s services sector expanded in December for the fourteenth straight month and left its one-year low hit last month. The services PMI for Spain rose to 54.3 points in December, after recording 52.7 points in the November, the weakest result in a year.
The EUR/USD pair remains cautious ahead of PMI data from other euro zone member nations and from Euro zone as a bloc.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.2008 (Jan 5 High) levels, above which gains could be extended to 1.2070 (10-DMA) levels. On the flip side, support is seen at 1.19 levels, below which it could extend losses to 1.1858 (Jan 5 Low) levels.
Currently, the EUR/USD pair trades flat at 1.1924 levels, after having posted day’s high at 1.1969 levels earlier in the day. EUR/USD remains unchanged after the Spanish services PMI readings showed that the country’s services sector expanded in December for the fourteenth straight month and left its one-year low hit last month. The services PMI for Spain rose to 54.3 points in December, after recording 52.7 points in the November, the weakest result in a year.
The EUR/USD pair remains cautious ahead of PMI data from other euro zone member nations and from Euro zone as a bloc.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.2008 (Jan 5 High) levels, above which gains could be extended to 1.2070 (10-DMA) levels. On the flip side, support is seen at 1.19 levels, below which it could extend losses to 1.1858 (Jan 5 Low) levels.