The German Manufacturing Purchasing Managers’ Index (PMI) measures the activity level of purchasing managers in the manufacturing sector.
The German Manufacturing PMI rose 53.3 , from 53.2 in the previous month , the indicator was expected to remain unchanged as previous month 53.2.
Market Impact :
This development will make the pair hovering around daily chart resistance 1.1312 , In case of any pullback , strong support will be met at the 1.1268 levels , further down support comes at 1.1209 levels. On the upside; sustained break out above the 1.1312 levels will challenge 1.1385 levels, further upside comes at the 1.1514 levels.
Conclusion : sideways market is expected around 1.1312 ???
