EUR/USD: Euro trading a tad higher in the morning session


EURUSD Movement

For the 24 hours to 23:00 GMT, the EUR declined 0.49% against the USD and closed at 1.1465 on Friday.

In the US, data showed that the US consumer price index (CPI) advanced 1.9% on an annual basis in December, at par with market expectations and compared to a rise of 2.2% in the prior month.

In the Asian session, at GMT0400, the pair is trading at 1.1470, with the EUR trading slightly higher against the USD from Friday’s close.

The pair is expected to find support at 1.1439, and a fall through could take it to the next support level of 1.1407. The pair is expected to find its first resistance at 1.1521, and a rise through could take it to the next resistance level of 1.1571.

Trading trend in the Euro today is expected to be determined by the Euro-zone’s industrial production for November, slated to release in a few hours.

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

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