EURUSD Movement
For the 24 hours to 23:00 GMT, the EUR rose 0.10% against the USD and closed at 1.1612.
In the US, data revealed that mortgage applications slid 3.0% on a weekly basis in the week ended 03 August 2018, notching a 19-month low level and following a drop of 2.6% in the prior week.
In the Asian session, at GMT0300, the pair is trading at 1.1617, with the EUR trading slightly higher against the USD from yesterday’s close.
The pair is expected to find support at 1.1584, and a fall through could take it to the next support level of 1.1551. The pair is expected to find its first resistance at 1.1639, and a rise through could take it to the next resistance level of 1.1661.
With no major macroeconomic releases in the Euro-zone today, investors would focus on the US initial jobless claims followed by the producer price index for July, set to release later in the day.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
