EURUSD Movement
For the 24 hours to 23:00 GMT, the EUR rose 0.72% against the USD and closed at 1.0639.
Macroeconomic data indicated that the US posted a budget deficit of $136.7 billion in November, surpassing market expectations for the nation to post a deficit of $131.0 billion and after recording a budget deficit of $44.2 billion in the previous month.
In the Asian session, at GMT0400, the pair is trading at 1.0632, with the EUR trading 0.07% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.0572, and a fall through could take it to the next support level of 1.0511. The pair is expected to find its first resistance at 1.0672, and a rise through could take it to the next resistance level of 1.0711.
Ahead in the day, market participants will be awaiting the release of Germany’s consumer price inflation figures for November along with the ZEW survey of economic sentiment index across the Euro-zone for December, to gauge economic strength in the common currency region. Moreover, the US NFIB small business optimism index for November, slated to release later in the day, would attract market attention.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
