EURUSD Movement
On Friday, the EUR rose 0.10% against the USD and closed at 1.1253.
In economic news, industrial production in the Euro-zone rose 0.1% on a seasonally adjusted monthly basis in April, lower than market expectations for an advance of 0.4% in March. Industrial production had dropped by a revised 0.4% in the prior month.
In the US, the preliminary Reuters/Michigan consumer sentiment index rose to a level of 94.60 in June, higher than market expectations of a rise to 91.40. The index had registered a reading of 90.70 in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.1207, with the EUR trading 0.41% lower from Friday’s close.
Over the weekend, Greece failed to strike an agreement with its creditors regarding its repayment of €1.6 billion to the IMF by the end of this month.
The pair is expected to find support at 1.1140, and a fall through could take it to the next support level of 1.1072. The pair is expected to find its first resistance at 1.1286, and a rise through could take it to the next resistance level of 1.1364.
Trading trends in the Euro today are expected to be determined by the ECB Chief, Mario Draghi’s speech, scheduled later in the day.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
