EURUSD Movement
For the 24 hours to 23:00 GMT, the EUR rose 0.27% against the USD and closed at 1.0960.
In the US, data showed that the ADP private sector employment advanced less-than-expected by 135.0K in September, compared to a revised increase of 157.0K in the previous month. Market participants had envisaged the private sector employment to increase by 140.0K. Meanwhile, the MBA mortgage applications jumped 8.1% on a weekly basis in the week ended 27 September 2019, following a drop of 10.1% in the prior month.
In the Asian session, at GMT0300, the pair is trading at 1.0958, with the EUR trading marginally lower against the USD from yesterday’s close.
The pair is expected to find support at 1.0968, and a fall through could take it to the next support level of 1.0906. The pair is expected to find its first resistance at 1.1029, and a rise through could take it to the next resistance level of 1.1028.
Looking ahead, traders would await Euro-zone’s producer price index and retail sales, both for August along with the Markit services PMIs for September, set to release across the euro bloc. Later in the day, the US factory orders for August, the Markit services PMI and the ISM non-manufacturing index, both for September, followed by initial jobless claims, will pique significant amount of investors’ attention.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
