EURUSD Movement
For the 24 hours to 23:00 GMT, the EUR declined 0.39% against the USD and closed at 1.1455.
In the US, data indicated that US seasonally adjusted initial jobless claims eased to a level of 210.0K in the week ended 13 October 2018, following a revised level of 215.0K in the preceding week. Market had expected the initial jobless claims to fall to a level of 211.0K. Moreover, the leading indicator climbed 0.5% on a monthly basis in September, in line with market consensus. In the previous month, leading indicator had advanced 0.4%.
On the contrary, the nation’s Philadelphia Fed manufacturing index dropped to a level of 22.2 in October, less than market consensus for a decline to a level of 20.0. In the prior month, the index had registered a reading of 22.9.
In the Asian session, at GMT0300, the pair is trading at 1.1460, with the EUR trading slightly higher against the USD from yesterday’s close.
The pair is expected to find support at 1.1430, and a fall through could take it to the next support level of 1.1401. The pair is expected to find its first resistance at 1.1508, and a rise through could take it to the next resistance level of 1.1557.
With no macroeconomic release in the Euro-zone today, investor sentiment will be determined by the US existing home sales data for September, set to release later in the day.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
