EURUSD Movement
For the 24 hours to 23:00 GMT, the EUR rose 0.13% against the USD and closed at 1.0877.
In economic news, Germany’s import price index climbed 1.00% MoM in March, more than market expectations for an advance of 0.40%. The index had recorded a rise of 1.40% in the prior month.
The greenback lost ground, after the preliminary estimate of the US Markit services PMI slipped more than expected to 57.8 in April, following a level of 59.2 registered in the previous month. Separately, the Dallas Fed manufacturing business index rose to a level of -16.00, compared to a reading of -17.40 in the prior month. Markets were expecting it to climb to a level of -12.00.
In the Asian session, at GMT0300, the pair is trading at 1.0877, with the EUR trading flat from yesterday’s close.
The pair is expected to find support at 1.0822, and a fall through could take it to the next support level of 1.0766. The pair is expected to find its first resistance at 1.0930, and a rise through could take it to the next resistance level of 1.0983.
Trading trends in the pair today are expected to be determined by the US consumer confidence data, scheduled in a few hours.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
