EURUSD Movement
For the 24 hours to 23:00 GMT, the EUR rose 0.36% against the USD and closed at 1.1172.
In the Asian session, at GMT0300, the pair is trading at 1.1196, with the EUR trading 0.21% higher against the USD from yesterday’s close.
In the US, the ISM-NY business conditions index jumped to 19.5 in May, compared to a level of 4.3 in the previous month.
The pair is expected to find support at 1.1140, and a fall through could take it to the next support level of 1.1085. The pair is expected to find its first resistance at 1.1226, and a rise through could take it to the next resistance level of 1.1257.
Looking forward, traders would keep a watch on Euro-zone’s Markit services PMI for May and the producer price index and unemployment rate, both for April, along with Germany’s Markit services PMI and the unemployment rate, both for May, slated to release in a few hours. Later in the day, the US Markit services PMI and the ISM non-manufacturing PMI, both for May, along with factory orders for April and the MBA mortgage applications, would keep investors on their toes.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
