EURUSD Movement
On Friday, the EUR declined 0.57% against the USD and closed at 1.0603.
In the US, the import price index eased 0.30% on a monthly basis in March, lower than market expectations for a drop of 0.40%. In the previous month, the index had risen by a revised 0.20%.
In the Asian session, at GMT0300, the pair is trading at 1.0595, with the EUR trading 0.07% lower from Friday’s close.
The pair is expected to find support at 1.0547, and a fall through could take it to the next support level of 1.0499. The pair is expected to find its first resistance at 1.0664, and a rise through could take it to the next resistance level of 1.0732.
Trading trends in the pair today are expected to be determined by global macroeconomic news.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
