The series of flash PMI data released last Friday indicated an overall slowdown in business activities across Europe amid the ongoing supply bottlenecks.
French Flash Manufacturing PMI (Actual: 53.5, Forecast: 53.9, Previous: 55.0 revised from 55.2)
French Flash Service PMI (Actual: 56.6, Forecast: 55.6, Previous: 56.2 revised from 56.0)
German Flash Manufacturing PMI (Actual: 58.2, Forecast: 56.5, Previous: 58.4 revised from 58.5)
German Flash Services PMI (Actual: 52.4, Forecast: 55.2, Previous: 56.2 revised from 56.0)
The German ifo Business Climate data (Forecast: 98.2, Previous: 98.8) will be released later at 1600 (GMT+8).
Currently, EUR/USD is testing the support zone of 1.16300 and the next resistance zone is at 1.17600. Look for short-term buying opportunities of EUR/USD if it bounces off the support zone of 1.16300.