EURUSD Movement
For the 24 hours to 23:00 GMT, the EUR rose 0.14% against the USD and closed at 1.0694.
In the US, data revealed that MBA mortgage applications rebounded 2.3% in the week ended 03 February 2017, following a drop of 3.2% in the previous week.
In the Asian session, at GMT0400, the pair is trading at 1.0688, with the EUR trading 0.06% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.0646, and a fall through could take it to the next support level of 1.0605. The pair is expected to find its first resistance at 1.0721, and a rise through could take it to the next resistance level of 1.0755.
Moving ahead, investors will look forward to Germany’s December trade balance figures, scheduled to release in a few hours. Additionally, in the US, weekly jobless claims and final wholesale inventories for December, set to release later today, will be on investor’s radar.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
