The euro was little changed after fresh PMI numbers for December. IHS Markit’s flash PMI figures showed that the data for the services and manufacturing sector were mixed.
The December flash manufacturing PMI fell to 45.9 from 46.9 in November. Services PMI was up from 51.9 in November to 52.4 in December. Based on the above figures, forecasts show that the eurozone economy will close at the worst level since 2013.
EUR/USD Consolidating Near Support
The common currency attempted to break past the price level of 1.1131. However, the gains were quickly reversed. The euro is seen retesting this price level.
We can see that price is consolidating near this support. If support is firmly established, we expect the breakout to the upside. The upper resistance at 1.1193 – 1.1180 will be the next key level of interest.
