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EUR/USD Mid Session Technical Analysis

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The Euro is trading flat-to-higher against the U.S. Dollar on Monday after an unexpected rebound in Chinese manufacturing activity lifted U.S. Treasury yields, making the dollar a more attractive asset. Traders also said position-squaring ahead of a testimony by the European Central Banks new president, Christine Lagarde, to the European parliament later in the day, also kept a lid on prices.

At 13:01 GMT, theEUR/USDis trading 1.1023, down 0.0006 or +0.05%.

Look for movement later today at 15:00 GMT with the release of the ISM US Manufacturing PMI report. It is expected to show factory activity came in at 49.2, up from 48.3. Construction spending is expected to have risen 0.3%.

The article was written by FX Empire's James Hyerczyk, for the full piece:

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