The euro is positive

The single currency remains positive against the US dollar based on the positive preliminary data on business activity in Germany.

• According to published data, the index of business activity in the manufacturing sector (PMI) of Germany increased in November to 62.5, exceeding the previous value of 60.6.
• The index of business activity in the German services sector in November was 54.9, slightly lower than the forecast at 55.0, but still exceeds the previous value at 54.7.

Technical analysis: Based on this positive statistics and the weak position of the US dollar, the pair EUR/USD maintains an upward trend in the short term. The main resistance levels are 1,1900; 1.1935. Support levels are 1,1,800; 1.1765.

Fig. EUR/USD graph, current price – 1,1838.

Alexander Sivtsov