EUR/USD trades soft near 1.08 on weaker-than-expected PMI data. Economists at Scotiabank analyze the pair’s technical outlook.
Support is 1.0750/1.0775
Preliminary Eurozone PMI data reflected soft but slightly better than forecast manufacturing trends in Germany and France. However, both countries saw much weaker than expected services activity this month, pushing the Eurozone services index down to 48.3, versus 50.5 expected and 50.9 in July. The composite index dropped to 47 from 48.6 (a milder drop to 48.5 was expected).
Steady EUR losses are extending to near the 200-Day Moving Average (1.0799).
The EUR/USD pair has given back nearly 3/4 of the May/July rally from 1.0635/1.1275 and weakness through the mid/upper 1.08s leaves the technical undertone here looking soft
면책 조항: 본 게시글에 표현된 견해는 전적으로 작성자의 견해이며 Followme의 공식 입장을 대변하지 않습니다. Followme는 제공된 정보의 정확성, 완전성 또는 신뢰성에 대해 책임을 지지 않으며, 서면으로 명시적으로 언급되지 않는 한 해당 내용을 기반으로 취해진 어떠한 조치에 대해서도 책임을 지지 않습니다.
