EUR/USD touches fresh highs on German Manufacturing PMI data

February 19, 2021

The EUR/USD pair holds above 1.21 and touches the session high of 1.2132.

Buyers are currently looking to establish a more bullish near-term bias on a break over the key hourly MA @ 1.2096-07. They are supported by better-than-expected German Manufacturing PMI data for February. The weaker US dollar also contributed. On the flip side, the Services sector stays under pressure and continues to struggle amid the coronavirus pandemic.

All in all, for EUR/USD, the break of the key near-term levels currently prepares for buyers to attempt and retest daily resistance nearer to 1.2150. So, that will be the next key resistance level to watch.

The EUR/USD pair holds above 1.21 and touches the session high of 1.2132.https://t.co/y9hJjGKpBw#forex #forexnews #forexsignals #bestforexsignalsproviders pic.twitter.com/NxHSZSGQoS

— 360ForexSignals.com (@petromenea) February 19, 2021