US flash PMI Overview

The preliminary United States (US) S&P Global Purchasing Managers’ Index (PMI) data for April is due for release today at 13:45 GMT.

According to the preliminary estimates, the US Manufacturing PMI expands at a faster pace to 52.5 from the previous reading of 52.3. The Services PMI is expected to have returned to 50.0 after declining to 49.8 in March. A figure below 50.0 is considered a contraction in the business activity.

An improvement in both the manufacturing and the services sectors suggests that the overall business output expanded at a faster pace. In March, the US Composite PMI arrived at 50.3.

Investors will pay close attention to the private sector PMI data to get cues about how much the Middle East War has impacted business activity.

How could the US PMI data affect EUR/USD?

EUR/USD trades 0.2% lower at around 1.1680 ahead of the US S&P Global PMI data release. On a daily chart, the pair holds just above the 38.2% Fibonacci retracement at 1.1666 but remains capped by the 20-period Exponential Moving Average (EMA) at 1.1689, which suggests that the near-term trend is uncertain.

The Relative Strength Index (RSI) at 50.2 is neutral, hinting at waning upside momentum with the upside bias remaining intact.

On the topside, immediate resistance is located at the 20-day EMA near 1.1689, followed by the 50.0% retracement at 1.1745 and the 61.8% level at 1.1825, with further hurdles at 1.1938 and 1.2082.

Looking down, initial support emerges at the 38.2% retracement at 1.1666; a break lower would expose the 23.6% level at 1.1567, ahead of a more substantial floor around the Fibonacci anchor at 1.1408.

(The technical analysis of this story was written with the help of an AI tool.)