EURUSD Movement
For the 24 hours to 23:00 GMT, the EUR declined 0.11% against the USD and closed at 1.0849.
In the US, data showed that the IBD/TIPP economic optimism rose less than expected to a level of 47.3 in January, showing that the consumer confidence edged up regarding the economic conditions in the country. Markets expected it to rise to a level of 47.6, following a previous month’s reading of 47.2. Additionally, the nation’s NFIB business optimism index slightly improved to a level of 95.2 in December, against a reading of 94.8 in the preceding month. Other economic data revealed that in the US, JOLTs job openings climbed to 5431.00 K in November, from a revised level of 5349.00 K in October. Markets expected it to advance to 5450.00 K.
In the Asian session, at GMT0400, the pair is trading at 1.0825, with the EUR trading 0.22% lower from yesterday’s close.
The pair is expected to find support at 1.0790, and a fall through could take it to the next support level of 1.0756. The pair is expected to find its first resistance at 1.0880, and a rise through could take it to the next resistance level of 1.0935.
Going ahead, investors will look forward to Euro-zone’s industrial production data for November, slated to release in a few hours. Additionally, investors will keep a close eye on the Fed’s Beige Book survey, scheduled later in the day.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
