EURUSD Movement
For the 24 hours to 23:00 GMT, the EUR rose 0.36% against the USD and closed at 1.1670 on Friday.
In the Asian session, at GMT0300, the pair is trading at 1.1668, with the EUR trading slightly lower against the USD from Friday’s close.
The pair is expected to find support at 1.1633, and a fall through could take it to the next support level of 1.1599. The pair is expected to find its first resistance at 1.1693, and a rise through could take it to the next resistance level of 1.1719.
Going ahead, investors will look forward to the flash Markit manufacturing and services PMIs for July across the Euro-zone, slated to release in a few hours. Moreover, in the US, preliminary Markit manufacturing and services PMIs for July, followed by existing home sales data for June, due to release later in the day, will garner significant amount of market attention.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
