EURUSD Movement
For the 24 hours to 23:00 GMT, the EUR rose 0.64% against the USD and closed at 1.0985.
In the Asian session, at GMT0300, the pair is trading at 1.0981, with the EUR trading marginally lower against the USD from yesterday’s close.
The pair is expected to find support at 1.0934, and a fall through could take it to the next support level of 1.0886. The pair is expected to find its first resistance at 1.1010, and a rise through could take it to the next resistance level of 1.1038.
In absence of crucial macroeconomic releases in the Euro-zone today, investors would keep a close watch on the US NY Empire State manufacturing index and the NAHB housing market index, both for April, along with retail sales and industrial production, both for March, slated to release later today. Additionally, US business inventories for February, the MBA mortgage applications and Fed’s Beige Book report, will also be eyed by traders.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
