EUR/USD: Euro extends its gains in the morning session


EURUSD Movement

For the 24 hours to 23:00 GMT, the EUR rose 0.16% against the USD and closed at 1.1304 on Friday.

In the US, the producer price index slid 0.2% on the monthly basis in June, compared to a rise of 0.4% in the previous month.

In the Asian session, at GMT0300, the pair is trading at 1.1326, with the EUR trading 0.19% higher against the USD from Friday’s close.

The pair is expected to find support at 1.1278, and a fall through could take it to the next support level of 1.1231. The pair is expected to find its first resistance at 1.1350, and a rise through could take it to the next resistance level of 1.1375.

Amid lack of macroeconomic releases in the Euro, investors would focus on US monthly budget statement for June slated to release later today.

The currency pair is trading above its 20 Hr and 50 Hr moving averages.

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