EURUSD dropped yesterday and closed at 1.3257. The Services Purchasing Managers Index in France, Spain and Italy rose more than the market expectations in July. The Retail Sales month over month in the Eurozone came out better than expected as well at a reading of -0.5 percent in June. On the other side of the ocean the ISM Non-Manufacturing PMI in the United States rose to a reading of 56.0 in July. Investors are now awaiting the Trade Balance data due to be released later from the United States. Support for the EURUSD is seen at 1.3248 and resistance is seen at 1.3339. The HotForex Traders Board shows that 68 percent of the traders are short on the EURUSD.
GBPUSD
The Cable rose yesterday and closed at 1.5353. The Services Purchasing Managers Index in the United Kingdom rose to a reading of 60.2 in July. The Manufacturing Production month over month released today rose 1.9 percent in June. The Halifax House Price Index month over month also released today rose 0.9 percent in July. Support for the GBPUSD is seen at 1.5265 and resistance is seen at 1.5394. The HotForex Traders Board shows that 56 percent of the traders are short on the GBPUSD.
EURUSD trading higher in the European session. US Trade Balance data on focus.
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