EUR/USD pair increased in value during Thursday trading session, but gains seemed limited after the announcement by FED that it could taper its asset purchasing program, while investors shorted their risk appetites.
The cross reached 1.2905 during late hours of European trade, highest value for the current session, then EUR/USD distanced, falling to 1.2883-1.2888. The pair was expected to find support at 1.2820, lowest value for todays trade, while resistance was to be met at 1.2932, highest value from Tuesday.
Earlier it was reported, that euro zone manufacturing and service sectors registered more than expected rise during May. Advance Manufacturing PMI increased to 47.8 during May, surpassing expectations for a reading of 47.0, while the value recorded during the previous period was 46.7.
Euro zones Advance Services PMI also registered an increase to 47.5 during May, exceeding estimated value of 47.2 and the reading from the preceding period, 47.0.
It became clear, additionally, that Advance Manufacturing PMI in both Germany and France showed improvement during May, compared to preceding month.