Overall, EUR/USD is ranging across. Recently, EUR/USD broke above the key level of 1.13.
The series of eurozone flash PMI data released yesterday indicated that overall business activities in the eurozone continue to expand. However, the services sector in Germany contracted due to the fourth wave of COVID infections.
Also, the European Central Bank (ECB) held its monetary policy unchanged during their meeting yesterday. Regarding the central bank’s Pandemic Emergency Purchase Programme (PEPP), it will slow down the pace of asset purchases before ending it in March 2022. The ECB will also be purchasing €40 billion of assets in the second quarter, before toning down to €30 billion of assets purchase in the third quarter and €20 billion of assets from October 2022 onwards. ECB President Lagarde mentioned during the press conference that it is unlikely a rate hike will take place in 2022 given the under circumstances.
EUR/USD’s next support zone is at 1.12000 and the next resistance zone is at 1.13900.
Look for short-term buying opportunities of EUR/USD.
The series of eurozone flash PMI data released yesterday indicated that overall business activities in the eurozone continue to expand. However, the services sector in Germany contracted due to the fourth wave of COVID infections.
- French Flash Manufacturing PMI (Actual: 54.9, Forecast: 55.4, Previous: 55.9 revised from 54.6)
- French Flash Service PMI (Actual: 57.1, Forecast: 55.9, Previous: 57.4 revised from 58.2)
- German Flash Manufacturing PMI (Actual: 57.9, Forecast: 57.0, Previous: 57.4 revised from 57.6)
- German Flash Services PMI (Actual: 48.4, Forecast: 50.9, Previous: 52.7 revised from 53.4)
- Flash Manufacturing PMI (Actual: 58.0, Forecast: 57.8, Previous: 58.4 revised from 58.6)
- Flash Services PMI (Actual: 53.3, Forecast: 54.2, Previous: 55.9 revised from 56.6)
Also, the European Central Bank (ECB) held its monetary policy unchanged during their meeting yesterday. Regarding the central bank’s Pandemic Emergency Purchase Programme (PEPP), it will slow down the pace of asset purchases before ending it in March 2022. The ECB will also be purchasing €40 billion of assets in the second quarter, before toning down to €30 billion of assets purchase in the third quarter and €20 billion of assets from October 2022 onwards. ECB President Lagarde mentioned during the press conference that it is unlikely a rate hike will take place in 2022 given the under circumstances.
EUR/USD’s next support zone is at 1.12000 and the next resistance zone is at 1.13900.
Look for short-term buying opportunities of EUR/USD.