The monthly services PMI data for September came out better than forecasts. Activity rose to 52.2 beating estimates of 51.8. The data was higher than the previous month’s reading of 51.8. Data from IMF showed that growth would slow for the Eurozone. The IMF said that the growth will be the slowest since 2013.
EUR/USD Stalls at Support
The currency pair was seen stalling after support is being tested. The support area of 1.1075 – 1.1062 is holding the declines for the moment. This could offer some small respite as the currency pair could bounce to the upside. However, the gains might be limited in scope. Unless price rallies back to the upper resistance level of 1.1131, the currency pair will be range-bound.
