EURUSD Movement
For the 24 hours to 23:00 GMT, the EUR rose 0.45% against the USD and closed at 1.1277.
In economic news, the Euro-zone’s trade surplus unexpectedly widened to €24.9 billion in April, compared to prior month’s level of €23.4 billion.
Separately, the ECB Chief, Mario Draghi, assured that the central bank was doing everything to strike a deal between Greece and its creditors. However, he also clearly said that the Greek government should take necessary steps to reach a solution.
In the US, industrial production unexpectedly slid 0.2% in May, against market expectations for a similar rise. It followed a 0.5% drop in the previous month. Additionally, the nation’s manufacturing slipped 0.2% in May, reversing market expectations for an advance of 0.3% and following a revised 0.1% increase in April.
In the Asian session, at GMT0300, the pair is trading at 1.1272, with the EUR trading a tad lower from yesterday’s close.
The pair is expected to find support at 1.1209, and a fall through could take it to the next support level of 1.1147. The pair is expected to find its first resistance at 1.1314, and a rise through could take it to the next resistance level of 1.1357.
Trading trends in the Euro today are expected to be determined by Germany’s CPI as well as ZEW’s economic survey data, scheduled in a few hours.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
