EUR/USD Consolidating in Lower Range Ahead of Flash Eurozone PMI

        0029 GMT [Dow Jones] The EUR/USD is likely to consolidate in a lower range Thursday as markets await Markit flash eurozone October PMI data due at 0800 GMT. The pair is weighed by positive USD sentiment and expectations the European Central Bank could include purchase of corporate bonds as part of its stimulus program. The daily chart is mixed as the MACD indicator is bullish, but the slow stochastic measure is falling from overbought levels. Support is at 1.2637 (Wednesday's low); a breach would target 1.2625-1.2620 (Oct. 15 low-Oct. 13 low), then 1.2605 (Oct. 10 low) and 1.2583 (Oct. 7 low). Resistance is at 1.2723 (hourly chart), then at 1.2740 (Wednesday's high). Spot EUR/USD is at 1.2644. (jerry.tan@wsj.com)
        (END) Dow Jones Newswires
        October 22, 2014 20:29 ET (00:29 GMT)