EURUSD Movement
For the 24 hours to 23:00 GMT, the EUR rose 0.23% against the USD and closed at 1.1944 on Friday.
Macroeconomic data released in the US indicated that the preliminary Reuters/Michigan consumer sentiment index remained steady at a level of 98.8 in May, compared to market expectations for a drop to a level of 98.3.
In the Asian session, at GMT0300, the pair is trading at 1.1964, with the EUR trading 0.17% higher against the USD from Friday’s close.
The pair is expected to find support at 1.1914, and a fall through could take it to the next support level of 1.1864. The pair is expected to find its first resistance at 1.1991, and a rise through could take it to the next resistance level of 1.2018.
With no macroeconomic releases in the Euro-zone today, investor sentiment would be determined by global macroeconomic events.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
