The EUR/USD pair sank in today's trading after a series of disappointing PMI data was released in Europe today. The Eurozone's Marikit Manufacturing PMI for October, for example, was at 51.3, slightly lower than the expected 51.4. Meanwhile, the Marikit Services PMI for the same period was at 50.9, down from the previous 52.2, and lower than the expected 52.4. Germany's Marikit Services PMI for the same month also fell to 52.3, down from the previous 53 7, and lower than the expected 53.9.
Because of the news, the EUR/USD pair fell from its peak at 1.3815. Upcoming news that could affect it is the US trade data, which will be released later today (12:30PM, GMT). The pair is currently trading at 1.3795, with initial resistance seen at 1.3785, followed by 1.3819. Meanwhile, initial support is at 1.3732, followed by 1.3698.
In the Pacific, the aussie began to make a slight recovery against the greenback in today's trading after the release of positive PMI data from China. The HSBC Manufacturing PMI for October came out at 50.9, which was better than the previous 50.2, and the expected 50.5. The news helped lift the AUD/USD pair slightly. From yesterday's sharp from at the 0.9630 zone, it recovered at the 0.9660-0.9670 area. It has, however, fallen again over the past few hours and is currently trading at 0.9616. Initial resistance for the pair is at 0.9692, by 0.9716. Meanwhile, initial support is at 0.9539, followed by 0.9515.
As for the USD/JPY, the pair remained fairly flat in today's trading, and has hovered around the 97.30-97.40 area. It peaked at around 97.56, but never managed to get past that. It slid back down again and is currently trading at 97.39. Initial resistance for the pair is at 97.79, followed by 98.04. Meanwhile, initial support is at 96.74, followed by 96.50.
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