EUR/USD (current price: 1.1228)
The pair had a small bounce on Friday, despite the broad strength of the USD, as the European Flash PMIs came in mostly better than expected. The German and the Eurozone Services PMIs missed expectations, providing mixed clues to investors regarding the health of the European economy. The U.S. Flash Manufacturing PMI was also below expectations, but the common currency still to advance compared to the U.S. Dollar, after a weak rally in late trading.
Our assessment: EUR/USD is held up by the 200-day moving average, currently at 1.1160, as central banks are still in the focus, with the pair being stuck in a long-term range.
