EURUSD Movement
For the 24 hours to 23:00 GMT, EUR declined marginally against the USD and closed at 1.3004, amid rising speculation that the European Central Bank would lower interest rates next week. Furthermore, the jobless rate in Spain rose to a record 27.2% in the Q12013, following a rate of 26.0% registered in the previous quarter.
Moreover, the greenback was lifted after the initial jobless claims for state employment benefits in the US dropped by 16K to a seasonally adjusted 339K in the week ended 20th April 2013. Additionally, for the week ended 13th April 2013, continuing jobless claims also dropped.
In the Asian session, at GMT0300, the pair is trading at 1.3035, with the EUR trading 0.24% higher from yesterday’s close.
The pair is expected to find support at 1.2984, and a fall through could take it to the next support level of 1.2933. The pair is expected to find its first resistance at 1.3090, and a rise through could take it to the next resistance level of 1.3145.
The currency pair is trading just above its 20 Hr and 50 Hr moving averages.
