EURUSD surged sharply after weak US PCE data. It declined to 6% yearly in Oct, below market expectations of 6.2%. Market eyes US NFP data for further direction. It hits an intraday high of 1.05449 and is currently trading around 1.05332.
US ISM manufacturing PMI dropped to 49 in Nov compared to a forecast of 49.70.
US ISM manufacturing PMI dropped to 49 in Nov compared to a forecast of 49.70. Markets eye the US NFP for further direction.
According to the CME Fed watch tool, the probability of a 75 bpbs rate hike in Dec dropped to 20.6% from 24.2% a day ago.
Technical:
On the higher side, near-term resistance is around 1.0550 and any convincing breach above will take the pair to the next level of 1.0600/1.0660.
The pair's immediate support is at 1.0480, breaking below targets of 1.0435/1.0370.
Indicator (4-hour chart)
Directional movement index – Bullish
It is good to buy on dips around 1.0500 with SL around 1.0435 for a TP of 1.0660.


FxWirePro: GBP/AUD consolidates around 2.0145, maintains bullish bias
Yen Surge Dims NZDJPY Shine: Bearish Trend Holds Below 91 Resistance
FxWirePro: EUR/AUD trends higher, but faces potential pitfalls
FxWirePro: USD/ZAR extends losses as dollar drops after delayed U.S. data
FxWirePro: GBP/NZD firms as RBNZ pushes back on rate hike prospects
FxWirePro: GBP/NZD remains bullish as rally continues
FxWirePro: EUR/CAD gaining momentum for a move towards 1.6250 level
FxWirePro: AUD/USD uptrend loses steam, remains on bullish path
FxWirePro: USD/JPY dips as yen strengthens ahead of BOJ policy meeting
USD Loses Shine: Soft Labor Market and Stalling Consumer Spending Drag USDCHF Lower
FxWirePro: NZD/USD sidelined ahead Of key New Zealand GDP and US inflation update
FxWirePro- Major Pair levels and bias summary
FxWirePro- Major European Indices
EUR/USD Surges Past 1.1765 on Dismal US Jobs Data: Bullish Momentum Builds with Eyes on 1.1900
FxWirePro: EUR/NZD edges lower but bullish outlook persists
FxWirePro: EUR/NZD advances as kiwi weakness after RBNZ's Breman comments
FxWirePro: GBP/USD gains as UK manufacturing PMI beats expectations 



