EURUSD Movement
For the 24 hours to 23:00 GMT, the EUR rose 0.29% against the USD and closed at 1.1167.
In the US, data showed that existing home sales unexpectedly advanced 1.1% to a level of 5.62 million on a monthly basis in May, defying investor consensus for a drop to a level of 5.55 million. In the previous month, existing home sales had recorded a revised reading of 5.56 million. Also, the nation’s MBA mortgage applications climbed 0.6% in the week ended 16 June 2017, following a rise of 2.8% in the prior week.
In the Asian session, at GMT0300, the pair is trading at 1.1170, with the EUR trading slightly higher against the USD from yesterday’s close.
The pair is expected to find support at 1.1141, and a fall through could take it to the next support level of 1.1113. The pair is expected to find its first resistance at 1.1185, and a rise through could take it to the next resistance level of 1.1201.
Ahead in the day, investors will keep a close watch on the European Central Bank’s (ECB) economic bulletin report and the Euro-zone’s flash consumer confidence data for June. Moreover, in the US, house price index for April, leading indicators for May and initial jobless claims data, will attract market attention.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
