EURUSD / 16/12/2014 08:06:44 Intensive Data FlowWith no data flow from the Eurozone, USA Empire manufacturing index declined unexpectedly, while industrial production and capacity utilization rate were above the market expectation. Having tested 200 moving average on 4 hours chart, declined below 1,2445 but later held above that level.
style="text-align:justify;">Today; France, Germany and Eurozone service and manufacturing PMIs as well as Germany ZEW economic sentiment will be followed. In the USA, building permits and housing starts will be followed also.
Technically; if the pair breaks 1,2500 resistance upwards, then 1,2530 and 1,2570 resistances would be aimed. If the pair stays below 1,2445 level, then 1,2400 and 1,2370 supports would be followed. In the case of breaking 1,2500, buy positions will be more effective.