The euro was declining on Thursday as the markets reopened after the holiday week. Economic data on the day saw the manufacturing PMI numbers for December.
Data from IHS Markit showed that manufacturing PMI rose slightly to 46.3 from 45.9 in November, beating estimates.
EUR/USD Back at Support
The currency pair’s retreat saw prices retesting the price level of 1.1193 – 1.1177 level. If support is formed here, then we anticipate another leg to the upside. But, if the support fails to hold, then we expect the declines to push lower. EURUSD could be at risk of testing the lower support at 1.1131.
