EUR/USD manages well to keep daily gains beyond the 1.08 mark. Auspicious PMIs in Germany, EMU supports the upside on Friday. US flash manufacturing PMI came in at 50.8 in February. The shared currency keeps the buying interest well and sound so far on Friday, taking EUR/USD to the area above the 1.0800 mark following the opening bell in Wall St. EUR/USD propped up by data EUR/USD appears within a consolidative range in the last part of the week, always around the 1.08 neighbourhood and a above 2020 lows at 1.0777 recorded on Thursday. The renewed buying interest in the European currency has been sustained by better-than-expected advanced manufacturing PMIs in Germany and the core Euroland for the current month published during early trade. In the US calendar, Markit’s flash manufacturing PMI missed estimates at 50.8 for the month of February (vs. January’s 51.9), adding some extra downside pressure to the buck. Next on tap will be January’s Existing Home Sales. What to look for around EUR EUR/USD is seen some light at the end of the tunnel this week on the back of upbeat data in the euro docket, managing at the same time to put further sistance from recent YTD lows in the 1.0780/75 band. As usual, USD-dynamics are expected to keep ruling the pair’s price action for the time being along with the broader risk appetite trends, where the COVID-19 remains in centre stage. On another front, the ECB is expected to finish its “strategic review” (announced at its January meeting) by year-end, leaving speculations of any change in the monetary policy before that time pretty flat. Further out, latest results from the German and EMU dockets continue to support the view that any attempt of recovery in the region remains elusive for the time being and is expected to keep weighing on the currency. EUR/USD levels to watch At the moment, the pair is gaining 0.51% at 1.0839 and faces the next resistance at 1.0879 (2019 low Oct.1) seconded by 1.0892 (23.6% Fibo of the 2020 drop) and finally 1.0981 (monthly low Nov.29 2019). On the downside, a breach of 1.0777 (weekly/2020 low Feb.20) would target 1.0710 (monthly low Jan.5 2016) en route to 1.0569 (monthly low Apr.10 2017). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US: Markit Manufacturing PMI drops to 50.8 (preliminary) in February vs. 51.5 expected FX Street 2 years EUR/USD manages well to keep daily gains beyond the 1.08 mark. Auspicious PMIs in Germany, EMU supports the upside on Friday. US flash manufacturing PMI came in at 50.8 in February. The shared currency keeps the buying interest well and sound so far on Friday, taking EUR/USD to the area above the 1.0800 mark following the opening bell in Wall St. EUR/USD propped up by data EUR/USD appears within a consolidative range in the last part of the week, always around the 1.08 neighbourhood and a above 2020 lows at 1.0777 recorded on Thursday. The renewed buying interest in the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.