EURUSD Movement
For the 24 hours to 23:00 GMT, the EUR marginally declined against the USD and closed at 1.0836.
In the Asian session, at GMT0400, the pair is trading at 1.0833, with the EUR trading slightly lower against the USD from yesterday’s close.
The pair is expected to find support at 1.0820, and a fall through could take it to the next support level of 1.0808. The pair is expected to find its first resistance at 1.0848, and a rise through could take it to the next resistance level of 1.0864.
Looking ahead, traders would keep a close watch on Euro-zone’s ZEW economic sentiment index for February along with Germany’s ZEW survey indices for February, slated to release in a few hours. Moreover, the US NY Empire State manufacturing index for December as well as the NAHB housing market index for February, scheduled to release later in the day, will keep investors on their toes.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
