Safe-haven appeal of the euro received further boost on a renewed wave of risk-aversion
- Downbeat Chinese PMI and sliding Chinese stocks added to the worries over the health of the Chinese economy, further bolstering risk-off sentiment
- Spanish PMI falls for 3 months running, employment index 53.5 from 55.5, lowest in 6 months, data fuel for those expecting ECB to add to easing efforts
- EUR/USD trades above 1.13 barrier, with scope for gains upto 1.1400 with bullish cross on slow stochs in oversold territory
- EUR/USD is currently trading at 1.1319, with next hurdle at 1.1337 (4h Kijun-Sen), and support on the downside at 1.1297 (200 DMA)
Resistance Levels:
R1: 1.1337 (4h Kijun-Sen)
R2: 1.1364 (Daily High Aug 27)
R3: 1.1368 (Session highs Aug 26th)
Support Levels:
S1: 1.1313 (10 DMA)
S2: 1.1310 (Daily High Aug 28)
S3: 1.1297 (200 DMA)


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