• EUR/USD is currently trading at 1.0977 with a high of 1.0986 and a low of 1.0965
  
  
• Price rejection at highs on Friday suggests bears are putting up a good fight as the long-term trend remains bearish
  
  
• A set of July final manufacturing PMIs for the UK, Germany, France, Italy, Spain and the euro zone will be released later today
  
  
• Euro area July manufacturing PMI 'flash' reading fell modestly from its June level, reflecting slippages in both France and Germany. The updated estimate today is expected to be unchanged
  
  
• In contrast US ISM manufacturing index rose in both May and June, there is tentative evidence that manufacturing has now absorbed much of the negative impact of the US dollar's surge and Lloyds Bank expect to see another small rise in July
  
  

Resistance Levels:

R1: 1.1012 (Hourly high July 31)

R2: 1.1045 (Cloud base)

R3: 1.1099 (55-Day MA)

Support Levels:

S1: 1.0958 (Hourly low July 31)

S2: 1.0921 (Session Low Jul 21)

S3: 1.0894 (Daily Low Jul 30)