EURUSD Movement
For the 24 hours to 23:00 GMT, the EUR rose 0.64% against the USD and closed at 1.1184.
In economic news, data suggested that industrial production in France unexpectedly fell by 0.8% on a monthly basis in June, falling for the second straight month, compared to market expectations for an advance of 0.1% and following a drop of 0.5% in the previous month.
Separately, data released in the US indicated that, MBA mortgage applications advanced by 7.1% during the week ended 05 August, rising for the first time in four weeks and after recording a drop of 3.5% in the previous week. Moreover, the nation’s JOLTs job openings rose less-than-expected to a level of 5624.0K in June, compared to a revised reading of 5514.0K in the prior month while markets anticipated it to rise to a level of 5675.0K. Meanwhile, the nation posted a budget deficit of $112.81 billion in July, following a budget surplus of $6.25 billion in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.1175, with the EUR trading 0.08% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.1143, and a fall through could take it to the next support level of 1.1110. The pair is expected to find its first resistance at 1.1200, and a rise through could take it to the next resistance level of 1.1224.
Looking ahead, the US initial jobless claims data, slated to release later today, will be on investor’s radar.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
