EURUSD Movement
For the 24 hours to 23:00 GMT, the EUR rose 0.43% against the USD and closed at 1.1421.
In the US, mortgage applications rose 0.4% in the week ended 06 May 2016, its first increase in three weeks, following a drop of 3.4% in the previous week. Additionally, the nation recorded a budget surplus of $106.5 billion in April, compared to market expectations for a budget surplus of $110.0 billion and after registering a surplus of $156.7 billion in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.1421, with the EUR trading flat from yesterday’s close.
The pair is expected to find support at 1.1383, and a fall through could take it to the next support level of 1.1345. The pair is expected to find its first resistance at 1.1453, and a rise through could take it to the next resistance level of 1.1484.
Moving ahead, investors will look forward to the Euro-zone’s industrial production data for March, scheduled to release in a few hours. Moreover, the US weekly jobless claims data, due later today, will also grab market attention.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
