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  • US ISM Manufacturing PMI falls to three-year lows at 49.1,  driving the recovery on EUR/USD.
  • The level to beat for bulls is at the 1.0979 resistance.
 

EUR/USD daily chart

 
On the daily time-frame, the shared currency is trading in a bear trend below its main daily simple moving averages (DSMAs). EUR/USD is recovering from multi-year lows as the US ISM Manufacturing PMI dropped to three-year low at 49.1.  

EUR/USD 4-hour chart

 
EUR/USD is challenging the 1.0979 resistance as the market is entering the Asian session. Bears have lost considerable ground and they need to reclaim the 1.0954, 1.0936 and 1.0913 levels according to the Technical Confluences Indicator.
   
   

EUR/USD 30-minute chart

 
EUR/USD is trading above the 1.0967 level and the 50/100 SMAs, suggesting a consolidation in the near term. The correction up can extend towards 1.1013, 1.1040 and 1.1070, according to the Technical Confluences Indicator.  

Additional key levels