EURUSD Movement
For the 24 hours to 23:00 GMT, the EUR declined 0.05% against the USD and closed at 1.1312.
In the Asian session, at GMT0400, the pair is trading at 1.1296, with the EUR trading 0.14% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.1282, and a fall through could take it to the next support level of 1.1268. The pair is expected to find its first resistance at 1.1322, and a rise through could take it to the next resistance level of 1.1348.
Moving ahead, investors would closely monitor Euro-zone’s construction output and current account balance, both for December along with Germany’s ZEW survey indices for February, scheduled to release in a few hours. Later in the day, the US NAHB housing market index for February, will pique significant amount of investors’ attention.
The currency pair is trading below its 20 Hr moving average and showing convergence with its 50 Hr moving average.
