EUR/USD: Euro trading a tad higher, ahead of key economic releases across the Euro-zone


EURUSD Movement

For the 24 hours to 23:00 GMT, the EUR declined 0.30% against the USD and closed at 1.1930.

In the Asian session, at GMT0300, the pair is trading at 1.1935, with the EUR trading slightly higher against the USD from yesterday’s close.

The pair is expected to find support at 1.1907, and a fall through could take it to the next support level of 1.1880. The pair is expected to find its first resistance at 1.1979, and a rise through could take it to the next resistance level of 1.2024.

Trading trend in the Euro today is expected to be determined by flash 1Q GDP data, scheduled to release across the Euro-zone in a few hours. Moreover, the release of ZEW economic sentiment index for May, will be eyed by market participants. Later in the day, the US advance retail sales for April, the NAHB housing market index for May and business inventories for March, will keep investors on their toes.

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

This entry was posted in EUR/USD. Bookmark the permalink.

Comments are closed.