EURUSD Movement
For the 24 hours to 23:00 GMT, EUR rose 0.49% against the USD and closed at 1.4431.
In the economic news, the manufacturing Purchasing Managers’ Index (PMI) in the Euro-zone declined to a reading of 49.7 in August, compared to a reading of 50.4 posted in July. The services Purchasing Managers’ Index (PMI) decreased to 51.5 in August, from 51.6 in July. The consumer confidence index declined to -16.6 in August, the weakest level since May 2010, following a reading of -11.2 in July.
Additionally, in Germany, the services Purchasing Managers’ Index (PMI) declined to a reading of 50.4 in August, following a reading of 52.9 posted in July. The manufacturing Purchasing Managers’ Index (PMI) remained unchanged at a reading of 52.0 in August.
Meanwhile, the ZEW economic sentiment index declined to a reading of -37.6 in August. The economic expectation index declined to a reading of -40.0 in August.
In the Asian session, at 3:00GMT, the EURUSD is trading at 1.4393, 0.26% lower from the levels yesterday at 23:00GMT.
The pair has its first short term resistance at 1.4476, followed by the next resistance at 1.4558. The first support is at 1.4336, with the subsequent support at 1.4278.
Trading trends in the pair today are expected to be determined by industrial new orders data release in the Euro zone.
The currency pair is trading just below its 20 Hr and its 50 Hr moving averages.
