EURUSD Movement
For the 24 hours to 23:00 GMT, EUR rose 0.07% against the USD and closed at 1.3415, as German industrial production recovered at a faster-than-expected pace in October after easing for two straight months.
In Germany, the industrial production rose 0.8% (MoM) in October, following a 2.8% decline in September. Additionally, in France, the trade deficit declined to €6.25 billion in October, compared to revised deficit of €6.57 billion in September.
In the Asian session, at GMT0400, the pair is trading at 1.3399, with the EUR trading 0.12% lower from yesterday’s close.
The pair is expected to find support at 1.3349, and a fall through could take it to the next support level of 1.3298. The pair is expected to find its first resistance at 1.3452, and a rise through could take it to the next resistance level of 1.3504.
European Central Bank interest rate decision is likely to receive increased market attention today.
The currency pair is showing convergence with its 20 Hr and its 50 Hr moving average.
