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EUR/USD Takes a Step Back with PMI Data

February's Flash (estimate) Manufacturing and Services PMIs from the Eurozone came out during the 2/20 session.

Manufacturing PMI: 48.5 (forecast: 49.6, previous: 49.3)
Services PMI: 46.9 (forecast: 49.5, previous: 48.9)

Manufacturing PMI: 54.7 (forecast: 56.4, previous: 56.5)
Services PMI: 55.4 (forecast: 53.4, previous: 53.1)
Manufacturing PMI: 53.0 (forecast: 54.2, previous: 54.0)
Services PMI: 51.7 (forecast: 51.9, previous: 51.6) a 5-month high
The PMIs reflect the divergence the core - really just Germany - and the periphery (even France) in terms of output and employment.

source: Markit
Overall PMI data has been subdued to start the year. The EUR/USD fell just ahead of and during the release but found support immediately after, just below 1.37 heading into the 2/20 US session. 
I am not too worried about the PMIs. In fact, the intra-day dip associated with the data could set up for a buy.

Looking at the 4H chart, I would like to see the Stochastic at 20 and RSI at 40 when considering a long entry. Also note that price is about to challenge a projected rising support.