EURUSD Movement
For the 24 hours to 23:00 GMT, EUR traded marginally higher against the USD and closed at 1.3266, following the release of an upbeat German consumer-confidence data and Spanish economic-growth figures.
Moreover, Euro-zone economic confidence index improved to 92.5 in July, driven by improved confidence among consumers and managers in industry, services and retail trade. Sentiment in the industrial sector also rose to -10.6 from -11.2 in June. Additionally, consumer and services confidence index also rose. Also in Germany, annual consumer prices ticked up more than market forecasts in July.
In the Asian session, at GMT0300, the pair is trading at 1.3255, with the EUR trading slightly lower from yesterday’s close.
The pair is expected to find support at 1.3225, and a fall through could take it to the next support level of 1.3194. The pair is expected to find its first resistance at 1.3294, and a rise through could take it to the next resistance level of 1.3332.
Today’s European economic calendar is lined up with releases such as producer and consumer prices in Italy, consumer prices from the Euro-zone and employment data from Germany.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
