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5 Aug 2013
EUR/USD falls further after ISM data
FXstreet.com (Córdoba) - The EUR/USD extended losses to fresh daily lows after ISM data showed US services sector expanded more than expected in July.
USD boosted by strong ISM services
Encouraged by better-than-expected data, the USD rallied across the board and dragged EUR/USD to a fresh low of 1.3232 in recent dealings. At time of writing, EUR/USD is trading around 1.3240/45, where it records a 0.3% loss on the day.
The ISM non-manufacturing PMI rose to 56 in July from 52.2 the previous month and exceeding expectations of 53.
EUR/USD: buyers to reappear near 1.3200
From a technical perspective, Valeria Bednarik, chief analyst at FXstreet.com notes that EUR/USD holds a slightly bearish tone in hourly chart, although the neutral stance prevails, in 4-hour chart, “giving no clues on direction at the time being. Expect buyers to surge on approaches to 1.3200 area”.
EUR/USD technical levels
Bednarik locates immediate support levels at 1.3220, 1.3180 and 1.3140, while she sees resistances at 1.3295, 1.3340 and 1.3385.
USD boosted by strong ISM services
Encouraged by better-than-expected data, the USD rallied across the board and dragged EUR/USD to a fresh low of 1.3232 in recent dealings. At time of writing, EUR/USD is trading around 1.3240/45, where it records a 0.3% loss on the day.
The ISM non-manufacturing PMI rose to 56 in July from 52.2 the previous month and exceeding expectations of 53.
EUR/USD: buyers to reappear near 1.3200
From a technical perspective, Valeria Bednarik, chief analyst at FXstreet.com notes that EUR/USD holds a slightly bearish tone in hourly chart, although the neutral stance prevails, in 4-hour chart, “giving no clues on direction at the time being. Expect buyers to surge on approaches to 1.3200 area”.
EUR/USD technical levels
Bednarik locates immediate support levels at 1.3220, 1.3180 and 1.3140, while she sees resistances at 1.3295, 1.3340 and 1.3385.