EURUSD Movement
For the 24 hours to 23:00 GMT, the EUR rose 0.13% against the USD and closed at 1.1110.
In the US, the number of people applying for fresh unemployment benefits unexpectedly held steady at 254.0K during the week ended 09 July, compared to market expectations for a rise to a level of 265.0K.
In the Asian session, at GMT0300, the pair is trading at 1.1131, with the EUR trading 0.19% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.1091, and a fall through could take it to the next support level of 1.1050. The pair is expected to find its first resistance at 1.1168, and a rise through could take it to the next resistance level of 1.1204.
Going ahead, market participants will look forward to Euro-zone’s consumer price index data for June, slated to be released in a few hours. Additionally, the US advance retail sales, consumer price index, industrial production, manufacturing production and flash Michigan confidence index data, all scheduled to be released later today, will grab significant amount of market attention.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
