EUR/USD turns positive near 1.1400 on PMIs

By FXStreet The single currency is posting meagre gains vs. the greenback on Friday, taking EUR/USD to the area of 1.1390/1.1400.

EUR/USD propped up by PMIs, Payrolls eyed

Positive results from final manufacturing PMIs for the month of March in both Germany and the euro area have lent extra support to EUR during the European morning, now trading closer to the key barrier at the 1.1400 handle.

Ahead in the day, US Non-farm Payrolls will take centre stage, seconded by ISM Manufacturing, Markit’s manufacturing PMI and the Reuters Michigan index.

EUR/USD levels to watch

The pair is now up 0.11% at 1.1394 facing the next resistance at 1.1412 (2016 high Mar.31) ahead of 1.1496 (monthly high Oct.15 2015) and the 1.1713 (high Aug.24 2015). On the downside, a break below 1.1198 (20-day sma) would target 1.1142 (low Mar.24) en route to 1.1043 (200-day sma).

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Source:: FX Street