The euro is stable. Data on business activity in the euro area

The single currency maintains a moderate dynamics against the US dollar because of the positive statistics on business activity in the Eurozone for December.

• According to published data, the index of business activity in the services sector increased to 56.6, slightly exceeding the previous value of 56.5.
• The composite index of business activity (PMI) by Markit was 58.1, which exceeds the previous value at 58.0.

Also, this dynamics of the EUR/USD pair is connected with the expectation of data on employment in the United States. See “Market Focus“.

Technical analysis: The pair EUR/USD holds above the level of 1.2000, which is a significant support level. In case pair overcomes it, the further reduction in the price of the instrument to the levels of 1,1960, 1,1940 is expected. The main resistance levels are considered at 1,2080, 1,2900.

Fig. EUR/USD. The current price is $ 1.2027.

Alexander Sivtsov