EURUSD Movement
For the 24 hours to 23:00 GMT, the EUR rose 0.23% against the USD and closed at 1.1346.
In the US, budget deficit widened more-than-expected to $864.0 billion in June, following a budget deficit of $399.0 billion in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.1341, with the EUR trading marginally lower against the USD from yesterday’s close.
The pair is expected to find support at 1.1303, and a fall through could take it to the next support level of 1.1265. The pair is expected to find its first resistance at 1.1377, and a rise through could take it to the next resistance level of 1.1413.
Moving forward, traders would keep a watch on Euro-zone’s ZEW survey economic sentiment for July and industrial production for May, along with Germany’s consumer price index for June and the ZEW survey indices for July, slated to release in a few hours. Later in the day, the US NFIB business optimism index and the consumer price index, both for June, would keep investors on their toes.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
