EUR/USD down to 1.0760 ahead of PMIs

The single currency is prolonging its weakness today, now sending EUR/USD to the area of daily lows near 1.0760.

EUR/USD attention to PMIs, US data

The pair is losing ground for the third straight session so far today, coming down to the 1.0760 region after hitting fresh multi-week tops beyond 1.0800 the figure earlier in the week.

The greenback, in the meantime, seems to have found some dip buyers and is now trading on a firm note closer to the psychological 100.00 handle when tracked by the US Dollar Index (DXY).

USD should stay under scrutiny in light of the upcoming House Republican vote on the American Health Care Act, which was cancelled yesterday amidst doubt of it getting passed.

In the data space, advanced PMIs for the month of March are due in Euroland, while Durable Goods Orders, flash Manufacturing PMI and speeches by Chicago Fed C.Evans (voter, dovish), New York Fed W.Dudley (permanent voter, centrist) and San Francisco Fed J.Williams (2018 voter, centrist) are all due across the pond.

EUR/USD levels to watch

At the moment the pair is losing 0.17% at 1.0765 facing the immediate support at 1.0717 (low Mar.21) ahead of 1.0704 (low Mar.16) and finally 1.0658 (20-day sma). On the other hand, a break above 1.0825 (high Mar.22) would target 1.0829 (2017 high Feb.2) en route to 1.0873 (high Dec.8 2016).

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