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EUR/USD  has edged higher as we begin the new trading week. The pair is trading in the mid-1.30 range in Monday’s  European session.  The  day started off  on a positive note, as Eurozone PMIs improved. Meanwhile, Italian Monthly Employment posted another record high. Later today, the Eurozone releases CPI Flash Estimate and the Unemployment Rate.  In the US,  today’s highlight is ISM Manufacturing PMI. The markets are hoping that the index will climb above the 50-point level, which indicates expansion.

Here is a quick update on the technical situation, indicators, and market sentiment that moves euro/dollar.

EUR/USD Technical

  • Asian session: Euro/dollar edged higher, touching a  high of 1.3034  and consolidating at 1.3030. The pair  has inched higher in  the  European session.

Current range: 1.3000 – 1.3050.

Further levels in both directions:       EUR USD Daily Forecast July 1st

  • Below: 1.30, 1.2940, 1.2890, 1.2840, 1.28, 1.2750  and  1.27.
  • Above: 1.3050, 1.31, 1.3160, 1.32, 1.3255, 1.3350, 1.34, 1.3434 and  1.3480.
  • EUR/USD is testing resistance at 1.3050. 1.3100 is next.
  • On the downside, the critical line of 1.3000 is providing support. This is followed by 1.2940.

Euro  trading  in  mid-1.30 range after  positive PMI numbers  – click on the graph to enlarge.

EUR/USD Fundamentals

  • 7:15  Spanish Manufacturing PMI. Exp. 48.9 points. Actual 50.0 points.
  • 7:45  Italian Manufacturing PMI. Exp. 47.8 points. Actual  49.1 points.
  • 8:00  Eurozone Final  Manufacturing PMI. Exp. 48.7 points. Actual  48.8 points.
  • 8:00 Italian Monthly Unemployment Rate. Exp. 12.1%. Actual 12.2%.
  • 9:00 Eurozone CPI Flash Estimate. Exp. 1.6%. See how to trade this event with EUR/USD.
  • 9:00 Eurozone Unemployment Rate. Exp. 12.3%.
  • 13:00 US  Final Manufacturing PMI.  Exp.  52.4 points.
  • 14:00 US  ISM Manufacturing PMI.  Exp.  50.6 points.
  • 14:00 US  ISM Manufacturing Prices.  Exp.  50.5 points.
  • 14:00 US  Construction Spending.  Exp.  0.6%.

For more events and lines, see the  Euro to dollar forecast.

EUR/USD Sentiment