EURUSD Movement
For the 24 hours to 23:00 GMT, the EUR declined 0.52% against the USD and closed at 1.1251.
In economic news, Germany’s final consumer price index (CPI) rose 0.3% MoM in May, matching investor expectations and preliminary figures. In the prior month, the CPI had recorded a drop of 0.4%.
In the US, the flash Reuters/Michigan consumer sentiment index fell less-than-expected to a level of 94.3 in June, compared to a reading of 94.7 in the previous month. Further, the US budget deficit stood at $52.5 billion in May, from a budget surplus of $106.5 billion in the prior month. Market anticipation was for the nation to post a budget deficit of $56.0 billion.
In the Asian session, at GMT0300, the pair is trading at 1.1243, with the EUR trading 0.07% lower from Friday’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 1.1176. The pair is expected to find its first resistance at 1.1298, and a rise through could take it to the next resistance level of 1.1354.
With no major economic releases in the Euro zone today, investors will look forward to the region’s industrial production data for April, scheduled to release tomorrow.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
