EURUSD (H4)

We just received PMI reports from France and Germany this morning and prints were mostly mixed - two prints were above expectations and two prints were below expectations.

EUR's response has been mixed as expected but looking at the EURUSD chart we could see price break free from its downside channel (black lines) last Friday only to be kept at bay by another level of resistance (red line).

Price is stuck between 1.0530 and 1.0485 right now and could be a market of interest to watch ahead of the FED Monetary policy announcement on Wednesday —

Note, US PMI later today could also decide if price could get a decisive break above 1.0530 on a strong miss or continue to track lower on a strong beat.