EURUSD Movement
For the 24 hours to 23:00 GMT, the EUR declined 0.08% against the USD and closed at 1.1206.
In the US, data showed that the NFIB small business optimism index fell to a level of 103.3 in in June, compared to a reading of 105.0 in the previous month. Market participants had expected the small business optimism index to drop to a level of 103.1. Moreover, the nation’s JOLTs job openings unexpectedly drop to a level of 7323.0K in May, declining for a second straight month and defying market consensus for rise to a level of 7470.0K. In the prior month, the JOLTs job openings had recorded a revised level of 7372.0K.
In the Asian session, at GMT0300, the pair is trading at 1.1209, with the EUR trading slightly higher against the USD from yesterday’s close.
The pair is expected to find support at 1.1195, and a fall through could take it to the next support level of 1.1182. The pair is expected to find its first resistance at 1.1220, and a rise through could take it to the next resistance level of 1.1232.
Amid lack of economic releases in the Euro-zone today, traders would await the FOMC meeting minutes followed by the US MBA mortgage applications, slated to release later in the day.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
