EURUSD Movement
For the 24 hours to 23:00 GMT, EUR declined 0.35% against the USD and closed at 1.3292.
In France, trade deficit narrowed to €1.4 billion in June from a deficit of €3.5 billion in May. In Greece, gross domestic product contracted 4.6% (YoY) in the second quarter of 2013, following a 5.6% contraction in the previous quarter. Additionally, consumer price index in Portugal fell 0.2% (MoM) in July, compared to flat reading expected by markets.
In the Asian session, at GMT0300, the pair is trading at 1.3310, with the EUR trading 0.14% higher from yesterday’s close.
The pair is expected to find support at 1.3279, and a fall through could take it to the next support level of 1.3249. The pair is expected to find its first resistance at 1.3337, and a rise through could take it to the next resistance level of 1.3365.
Apart from industrial production and ZEW sentiment indices form the Euro-zone to be released today, the German ZEW sentiment indices and CPI data are also expected to be keenly eyed for further insights into the region’s recovery prospects.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
