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• EUR/USD eased slightly on Thursday as investors digested mixed Eurozone PMI and upbeat US service PMI data.
• The flash purchasing managers' index (PMI) for the eurozone revealed unexpected strength in business activity for August, rising to 51.2 despite firms increasing prices.
• Germany's business activity contracted for the second consecutive month, with the decline surpassing expectations, according to PMI data.
•The U.S. flash services PMI rose to 55.2 in August, up from 55.0 in July, defying economists' expectations of a decrease to 54.0.
• Immediate resistance is located at 1.1167( 23.6%fib), any close above will push the pair towards 1.1200 ( Higher BB)
• Strong support is seen at 1.1080(38.2% fib) and break below could take the pair towards 1.1011 (50% fib).
Recommendation: Good to buy around 1.1080, with stop loss of 1.1000 and target price of 1.1160
