EURUSD Movement
For the 24 hours to 23:00 GMT, the EUR rose 0.07% against the USD and closed at 1.0970.
In the US, the Dallas Fed manufacturing business index declined more-than-expected to a level of -20.1 in December, its lowest reading since May 2015, compared to a reading of -4.9 in the previous month. Markets were anticipating the index to fall to a level of -7.0.
In the Asian session, at GMT0400, the pair is trading at 1.098, with the EUR trading 0.1% higher from yesterday’s close.
The pair is expected to find support at 1.0960, and a fall through could take it to the next support level of 1.0939. The pair is expected to find its first resistance at 1.0997, and a rise through could take it to the next resistance level of 1.1014.
Going ahead, market participants await Italy’s consumer confidence and business confidence data, scheduled to be released in a few hours. Additionally, the US consumer confidence and the S&P/Case-Shiller home price index data, due later today, will also attract investor attention.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
