The euro is stable. Data on business activity in the manufacturing sector of the Eurozone
The euro keeps its positions against the US dollar, after the publication of data on business activity in the euro area.
- According to published data, PMI in March kept its value at 56.6, while analysts had expected the growth of the indicator to 57.6.
Technical Analysis: Since the end of last week, the EUR/USD pair is moving in the sideways trend on the H1 chart with resistance at 1.2345, 1.2285. Basically, this movement is connected with the uncertainty surrounding the trade war between the US and China.
Key recommendations: In case of consolidating the pair above the 1.2345 mark, it is worth considering buying the pair with growth to the levels of 1.2390, 1.2420. In the event of a reduction in the price of the instrument and the consolidation below the level of 1.2285, it is worth considering selling with a decrease to the levels of 1.2240, 1.2210.
Fig. EUR/USD. The current price is $ 1.2324.
Alexander Sivtsov