FXstreet.com (Jakarta) - The EUR/USD rose as the eurozone services and manufacturing composite PMI contracted at the slowest rate in six months indicating the eurozone economic slump may be easing.

The short-term trend for the EUR/USD is negative; however, the pair traded above the 1.30 handle and may test the diagonal 1.32-area resistance, said Hans Nilsson, analyst at CMS Forex. If this resistance is broken, the chart pattern will turn bullish. Support exists in the 1.29 area.

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