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EUR/USD flat around 1.1200

FXStreet (Edinburgh) - The single currency is alternating gains with losses at the beginning of the week, with EUR/USD gyrating around 1.1200.

EUR/USD focus on PMIs

The pair is struggling to find direction today, holding well around the 1.1200 handle despite the softer results from the HSBC PMI in the Chinese economy. Ahead in the day, the final figures from the manufacturing PMIs are due in Euroland ahead of the Sentix index and Factory Orders across the Atlantic.

Regarding Greece, market participants remain vigilant as the country should present a list of structural reforms in the upcoming days, in light of the Eurogroup meeting on May 11th.

EUR/USD key levels

At the moment the pair is flat 1.1201 and a drop below 1.1184 (low May.1) would expose 1.1176 (low May 4) and finally 1.1072 (low Apr.30). On the upside, the immediate hurdle aligns at 1.1291 (high May 1) followed by 1.1380 (high Feb.26) and then 1.1389 (high Feb.25).

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