FXstreet.com (Barcelona) - The Euro is gathering momentum on early European session and, after better than expected PMI data in Germany and France, the pair has broken 1.4275 resistance area to reach levels around 1.4290.

German services PMI rose to expansion levels, 54.4 in August from 48.8 in July while Manufacturing PMI advanced to 49.0 in August, from 45,7 in Jul according to preliminary estimations, reaching very close to growth levels, and beating expert's forecasts of 48.8 and 47.0 readings respectively,

Above 1.4275 intra-week high, next resistance area comes at 1.4305 (Aug 14 high) and 1.4325 (Aug 13 high). In case of retracement below 1.4275, support levels lie at 1.4200 (Aug 20 low) and below there, 1.4170 and 1.4155.

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