EURUSD Movement
For the 24 hours to 23:00 GMT, the EUR declined 0.16% against the USD and closed at 1.3384.
Yesterday, the Fed’s VC Stanley Fischer stated that the global economic recovery has been disappointing and the long-run annual growth in the US may now be as low as 2%. Meanwhile, US President Obama spoke at a press conference that the US forces carried out successful air strikes in Iraq; however, he added that the nation has stepped up its military advice to Iraqis and the Kurds.
In the Asian session, at GMT0300, the pair is trading at 1.3371, with the EUR trading 0.1% lower from yesterday’s close.
The pair is expected to find support at 1.3358, and a fall through could take it to the next support level of 1.3344. The pair is expected to find its first resistance at 1.3394, and a rise through could take it to the next resistance level of 1.3416.
Going forward, trading trends in the Euro would be governed by ZEW survey data from the Euro-zone as well as Germany, scheduled in a few hours.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
