EURUSD Movement
For the 24 hours to 23:00 GMT, EUR rose 0.24% against the USD and closed at 1.3191, as political worries from Portugal eased after Portuguese President, Anibal Cavaco Silva, over the weekend, stated that the current government would stay in office to keep an international bailout on track. Moreover, the greenback turned lower, after the existing home sales in the US fell more than expected in June, thus making strong case for the Federal Reserve to continue with loose monetary policy.
In the Asian session, at GMT0300, the pair is trading at 1.3199, with the EUR trading marginally higher from yesterday’s close.
The pair is expected to find support at 1.3154, and a fall through could take it to the next support level of 1.3110. The pair is expected to find its first resistance at 1.3231, and a rise through could take it to the next resistance level of 1.3264.
Data slated today includes consumer confidence index from the Euro-zone.
The currency pair is trading above its 20 Hr and its 50 Hr moving averages.
