EURUSD Movement
For the 24 hours to 23:00 GMT, the EUR rose 0.19% against the USD and closed at 1.1171.
In economic news, industrial production in Germany rebounded 0.7% MoM in July, against prior month’s revised drop of 0.9%. Markets expected it to increase 1.1% in the month of July. Meanwhile, the Euro-zone’s Sentix investor confidence index tumbled to a level of 13.6 in September, marking its lowest level since February and following a reading of 18.4 in August. Analysts had expected the measure to fall to 16.1
In the Asian session, at GMT0300, the pair is trading at 1.1163, with the EUR trading 0.07% lower from yesterday’s close.
The pair is expected to find support at 1.1129, and a fall through could take it to the next support level of 1.1096. The pair is expected to find its first resistance at 1.1188, and a rise through could take it to the next resistance level of 1.1213.
Trading trends in the Euro today are expected to be determined by the preliminary estimate of the Euro-zone’s Q2 GDP data, scheduled in a few hours.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
