EURUSD Movement
For the 24 hours to 23:00 GMT, the EUR declined 0.31% against the USD and closed at 1.1293.
In the US, data showed that the consumer price index (CPI) advanced 1.8% on a yearly basis in May, falling short of market anticipation for a rise of 1.9%. In the previous month, the CPI had climbed 2.0%. Moreover, the US mortgage applications surged 26.8% on a weekly basis in the week ended 07 June 2019, following a gain of 1.5% in the previous week.
In the Asian session, at GMT0300, the pair is trading at 1.1293, with the EUR trading flat against the USD from yesterday’s close.
The pair is expected to find support at 1.1270, and a fall through could take it to the next support level of 1.1246. The pair is expected to find its first resistance at 1.1330, and a rise through could take it to the next resistance level of 1.1366.
Moving ahead, traders would keep an eye on Euro-zone’s industrial production for April and Germany’s consumer price index for May, slated to release in a few hours. Later in the day, the US initial jobless claims, will be on investor’s radar.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
