EUR/USD: Euro trading on a stronger footing in the Asian session


EURUSD Movement

For the 24 hours to 23:00 GMT, the EUR rose 0.06% against the USD and closed at 1.1971.

In economic news, the US NFIB small business optimism index surprisingly climbed to a level of 105.3 in August, compared to a reading of 105.2 in the prior month, while markets were expecting the index to fall to a level of 104.8. Additionally, the nation’s JOLTs job openings registered an unexpected rise to a level of 6170.0K in July, defying market consensus for a drop to a level of 6000.0K. In the previous month, JOLTs job openings had recorded a revised level of 6116.0K.

In the Asian session, at GMT0300, the pair is trading at 1.1985, with the EUR trading 0.12% higher against the USD from yesterday’s close.

The pair is expected to find support at 1.1943, and a fall through could take it to the next support level of 1.1901. The pair is expected to find its first resistance at 1.2010, and a rise through could take it to the next resistance level of 1.2035.

Going ahead, investors will direct their attention to the release of the Euro-zone’s industrial production for July as well as Germany’s final consumer price inflation for August, both slated to release in a few hours. Additionally, the US monthly budget statement for August, due to release later in the day, will be on investors’ radar.

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

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