EURUSD Movement
For the 24 hours to 23:00 GMT, the EUR traded a tad higher against the USD and closed at 1.0738.
In economic news, Germany’s current situation index advanced to 70.20, registering its highest figure since 2011 in April and compared to market expectations of a rise to a level of 56.50. In the prior month, the index had recorded a level of 55.10. On the other hand, the nation’s ZEW economic sentiment surprisingly dropped to 53.3, marking its first decline since October 2014 in April. Market expectations were for it to climb to 55.30.
Other data indicated that the euro-zone’s economic sentiment index recorded a rise to 64.80 in April, following a level of 62.40 in the previous month.
In the US, the seasonally adjusted Redbook index climbed 0.10% on a monthly basis in the week ended 17 April 2015. The Redbook index had registered a rise of 0.20% in the previous week.
In the Asian session, at GMT0300, the pair is trading at 1.0726, with the EUR trading 0.11% lower from yesterday’s close.
The pair is expected to find support at 1.0663, and a fall through could take it to the next support level of 1.0600. The pair is expected to find its first resistance at 1.0786, and a rise through could take it to the next resistance level of 1.0845.
Trading trends in the Euro today are expected to be determined by the Euro-zone’s consumer confidence data, scheduled in a few hours.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
