Dollar is under pressure against most rivals, with the yen being the first to rally on news Israel has shoot down a Syrian warplane; US Yields turned broadly lower fueling the greenback slide across the board, with the EUR/USD surging up to 1.2886 so far, and despite European PMI readings resulted again disappointing: EZ business activity grew at the lowest rate since December last year, printing 52.3. German manufacturing PMI also missed expectations while in France, both Services and Manufacturing PMI stand below 50.
Technically, the 4 hours chart shows price barely above a flat 20 SMA and indicators having recovered some ground but still below their midlines, showing no real upward momentum at the time being. Nevertheless, as long as above 1.2865 now, the upside is favored towards 1.2920 price zone, next strong resistance. A break below mentioned support on the other hand, should see the pair returning to its recent lows around 1.2820, while a break below 1.2810 should see the pair resuming the downside towards 1.2740 price zone.
View Live Chart for EUR/USD
Technically, the 4 hours chart shows price barely above a flat 20 SMA and indicators having recovered some ground but still below their midlines, showing no real upward momentum at the time being. Nevertheless, as long as above 1.2865 now, the upside is favored towards 1.2920 price zone, next strong resistance. A break below mentioned support on the other hand, should see the pair returning to its recent lows around 1.2820, while a break below 1.2810 should see the pair resuming the downside towards 1.2740 price zone.
View Live Chart for EUR/USD
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