German Manufacturing PMI Up 53.3 in Aug , EURUSD Hovering Around 1.1312 Resistance!

forex germany min
forex germany min

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 ???