FxWirePro: EUR/USD maintains bullish bias with focus on 1.1380 levels
The EUR/USD pair declined slightly up to 1.1303 in the early US session after data showed a modest improvement in manufacturing activity, but the bears quickly faded as the pair inched back towards 1.1325 levels, reflect…
The EUR/USD pair declined slightly up to 1.1303 in the early US session after data showed a modest improvement in manufacturing activity, but the bears quickly faded as the pair inched back towards 1.1325 levels, reflecting a strong buying sentiment towards the common currency.
The Philadelphia Manufacturing Index increased 5 points to a reading of 2.0 in August as more companies reported an increase in shipments. August marked the third positive reading for the index this year.
The dollar slipped lower on Wednesday after minutes from the Federal Reserve's July meeting showed a bias among policymakers against raising interest rates soon.
To the upside, the strong resistance can be seen at 1.1364, a break above will take the pair towards next resistance level at 1.1415.
To the downside immediate support can be seen at 1.1293 levels, a break below will open the door towards next level at 1.1251.
