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EUR/USD extends side-trend into the early European trades after slight gap-up open today.
- Release of the Caixin Chinese PMI report stoked concerns over the ongoing China slowdown and weighed on USD
- EUR/USD is currently trading at 1.1027, with the day's high at 1.1042 and lows at 1.1018
- Immediate resistance is seen at 1.1072 (Oct 30 high) ahead of 200 DMA at 1.1108, while strong support lies at 1.10 (trendline)
- Technicals point higher on the day, Stochs have shown bullish crossover after remaining at oversold levels since Oct 22nd
- RSI has also rebounded from 30 levels and is biased higher confirming upside in the pair
- Markets now shift their focus towards a flurry of final manufacturing PMIs from the Euro area, the major will also track sentiment across European indices
