EUR/USD - 1-hour 100-MA is a tough nut to crack

The EUR/USD pair failed once again to take out the hourly 100-MA in Asia, but is finding support around the hourly 50-MA level.

Eyes Eurozone PMI figure and US data

The preliminary services PMI readings for November are due for release today. Later in the day, US durable goods orders and new home sales figure would be watched out by the markets.

Both the data sets could influence the German-US yield spread and thus affect the EUR/USD pair. Apart from the data sets, the common currency could also feel the heat of the political developments in France and Germany.

EUR/USD Technical Levels

The pair was last seen trading around 1.0925 levels. An hourly close above 1.0632 (1-hr 100-MA) would open doors for 1.0706 (hourly 200-MA) which is seen sloping towards to 1.0690 by early Europe. On the lower side, a breach of 1.0623 (hourly 50-MA) would expose 1.06 (zero figure), under which the losses could be extended to 1.0569 (Nov 18 low).