EURUSD Movement
For the 24 hours to 23:00 GMT, the EUR rose 0.37% against the USD and closed at 1.1317, as concerns about the Greek debt negotiations reduced as Germany is reportedly considering to make an aid offer to the debt-laden country.
Yesterday, the US posted a budget deficit of $82.40 billion in May, from a surplus of $156.71 billion in the prior month. Markets were expecting a budget deficit of $97.50 billion.
In the Asian session, at GMT0300, the pair is trading at 1.1300, with the EUR trading 0.15% lower from yesterday’s close.
The pair is expected to find support at 1.1245, and a fall through could take it to the next support level of 1.1189. The pair is expected to find its first resistance at 1.1372, and a rise through could take it to the next resistance level of 1.1443.
Trading trends in the Euro today are expected to be determined by the Euro-zone’s industrial production data, scheduled in a few hours. Additionally, the US advance retail sales, scheduled later today would grab lot of market attention.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
