Forex: EUR/USD: PMI pushes Euro back to test 1.4560 session high

By IBTimes Staff Reporter | December 16 2009 4:22 AM

FXstreet.com (Barcelona) - The Euro has bounced at 1.4510 session low at early European session, and, fuelled by upbeat Manufacturing PMI data, the pair rose to re-test 1.4560 session high at the moment of writing.

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In case of furtehr appreciation, next resistance levels lie at 1.4575/85 (intra-day level/Dec 11 low) and above here, 1.4620/30 and 1.4665. Support levels lie at 1.4505 (Dec 15 low) and 1.4480 (Oct low) and 1.4445 (Aug 5 high).

Eurozone Manufacturing Flash PMI index has ticked up to 51.6 in December from 51.2 in November, while services Flash PMI has been estimated to rise to 53.7 in December from 53.0 in November, showing that Eurozone's manufacturing and services sectors' activity continues growing after a log slump, as figures above 50 mean expansion of the sector's activity.

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