EURUSD Movement
For the 24 hours to 23:00 GMT, the EUR declined 0.41% against the USD and closed at 1.0906.
In economic news, the French final GDP rose 0.3% in 3Q15 on a quarterly basis, at par with market expectations, up from an unchanged reading in the previous quarter. The preliminary figures had also indicated an advance of 0.3%.
In the US, the preliminary durable goods orders remained steady in November, compared with market expectations for a drop of 0.6%. Durable goods orders had risen 2.9% in the prior month. Meanwhile, new home sales climbed 4.3% on a monthly basis in November, to a level of 490.0K, compared to a revised level of 470.0K in the prior month. Market anticipation was for new home sales to climb to 505.0K.
In the Asian session, at GMT0400, the pair is trading at 1.0929, with the EUR trading 0.21% higher from yesterday’s close.
The pair is expected to find support at 1.0883, and a fall through could take it to the next support level of 1.0837. The pair is expected to find its first resistance at 1.0962, and a rise through could take it to the next resistance level of 1.0995.
Going forward, investors would keep a close watch on the US initial jobless claims data, scheduled later today.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
