The Euro holds slight bid tone at the beginning of the US session, pressuring again 1.1600 barrier, after EU Composite PMI came forecast in August (54.5 vs 54.4 f/c, but positive impact was partially offset by weaker than expected retail sales (Aug -0.2% m/m vs -0.1% f/c and 0.3% previous month. However, repeated rejection at 20SMA, which proves to be solid support (1.1540), could be seen as initial signal of near-term bears losing traction and possible basing attempt.
Mixed signals from daily techs lack clearer direction signal, with near-term action holding between 20 and 55SMA and break of either pivot to point to fresh direction.
Res: 1.1615; 1.1629; 1.1660; 1.1690
Sup: 1.1540; 1.1517; 1.1479; 1.1466
