EURUSD Movement
On Friday, the EUR rose 0.52% against the USD and closed at 1.1348.
In economic news, the German consumer prices stagnated on a monthly basis in August.
The greenback lost ground, after the US consumer sentiment index slumped more than expected to a level of 85.7 in September, compared to a level of 91.9 recorded in the preceding month. On the other hand, the nation registered budget deficit of $64.42 billion in August, following a budget deficit of $149.19 billion in the previous month. Markets were anticipating the nation to register a budget deficit of $77.50 billion.
In the Asian session, at GMT0300, the pair is trading at 1.1345, with the EUR trading marginally lower from Friday’s close.
The pair is expected to find support at 1.1278, and a fall through could take it to the next support level of 1.1212. The pair is expected to find its first resistance at 1.1386, and a rise through could take it to the next resistance level of 1.1427.
Trading trends in the Euro today are expected to be determined by the Euro-zone’s industrial production data, scheduled in a few hours.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
