EURUSD Movement
For the 24 hours to 23:00 GMT, the EUR rose 0.73% against the USD and closed at 1.1574.
The US dollar weakened against the euro, following US President, Donald Trump’s critical comments over the Federal Reserve’s interest rate hike policy.
In the Asian session, at GMT0300, the pair is trading at 1.1575, with the EUR trading marginally higher against the USD from yesterday’s close.
The pair is expected to find support at 1.1511, and a fall through could take it to the next support level of 1.1447. The pair is expected to find its first resistance at 1.1620, and a rise through could take it to the next resistance level of 1.1665.
In absence of key macroeconomic releases in the Euro-zone today, investors would direct their attention to the US MBA mortgage applications followed by the US Federal Reserve’s August meeting minutes, slated later in the day. Moreover, the US existing home sales data for July, will also be eyed by traders.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
