EUR/USD revisits Friday’s low on broad based USD strength
|Bid tone around US dollar strengthened in Asia, pushing the EUR/USD pair back to Friday’s low of 1.0859 levels.
Focus on Eurozone PMIs and Fed speak
Preliminary manufacturing PMI figures are due for release across the globe. Many in the markets are expecting ECB to ease further in December. Hence, dismal PMI numbers could add fuel to the fires.
Later in the day, the dollar side of the story would once again come into play after Fed speak - Dudley, Bullard, Evans and Powell. It remains to be seen if the policymakers are above to talk up the Fed December rate hike bets, which as per CME data currently stand close to 70%.
EUR/USD Technical Levels
A break below 1.0828 (76.4% Fib extension of May 2016 high – June 2016 low –Aug 2016 high) would open doors for 1.08 (zero figure). A violation there could yield 1.0777 (76.4% of 1.0517-1.1616). On the higher side, breach of 1.0911 (June 24 low) would expose 1.0952 (July 25 low) and 1.10 (zero figure).
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