EUR/USD: Germany’s trade surplus unexpectedly widened in December


EURUSD Movement

For the 24 hours to 23:00 GMT, the EUR declined 0.15% against the USD and closed at 1.1324 on Friday.

On the data front, Germany’s seasonally adjusted trade surplus unexpectedly widened to €19.4 billion in December, compared to a revised surplus of €18.9 billion in the previous month. Market participants had anticipated the nation to record a surplus of €18.4 billion.

In the Asian session, at GMT0400, the pair is trading at 1.1320, with the EUR trading a tad lower against the USD from Friday’s close.

The pair is expected to find support at 1.1306, and a fall through could take it to the next support level of 1.1293. The pair is expected to find its first resistance at 1.1342, and a rise through could take it to the next resistance level of 1.1365.

Amid no major economic releases in the Euro-zone and the US today, investors would keep an eye on global macroeconomic events for further directions.

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

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