EURUSD Movement
For the 24 hours to 23:00 GMT, the EUR rose 0.48% against the USD and closed at 1.1510 on Friday.
On the data front, the Euro-zone’s seasonally adjusted current account surplus widened to €23.9 billion in August, following a revised surplus of €19.5 billion in the previous month.
In the US, data showed that US existing home sales declined for the sixth consecutive month by 3.4%, on a monthly basis, to a level of 5.15 million in September, marking its lowest level since 2015. In the prior month, the existing home sales recorded a revised level of 5.33 million, while market participants had anticipated existing home sales to drop to a level of 5.29 million.
In the Asian session, at GMT0300, the pair is trading at 1.1508, with the EUR trading slightly lower against the USD from friday’s close.
The pair is expected to find support at 1.1449, and a fall through could take it to the next support level of 1.1390. The pair is expected to find its first resistance at 1.1551, and a rise through could take it to the next resistance level of 1.1594.
With no macroeconomic releases in the Euro-zone today, traders would focus on the US Chicago Fed national activity index for September, set to release later in the day.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
