EURUSD Movement
For the 24 hours to 23:00 GMT, the EUR declined 0.25% against the USD and closed at 1.0892.
In economic news, Italy’s trade surplus narrowed to a level of €1.097 billion in November, from previous month’s reading of €1.296 billion.
In the Asian session, at GMT0400, the pair is trading at 1.0888, with the EUR trading marginally lower from yesterday’s close.
The pair is expected to find support at 1.0868, and a fall through could take it to the next support level of 1.0848. The pair is expected to find its first resistance at 1.0909, and a rise through could take it to the next resistance level of 1.0930.
Going ahead, investors will look forward to Germany’s consumer price index, Euro-zone’s consumer price index, ZEW survey data slated to release in a few hours. Moreover, US NAHB housing market index, due later today, will also attract investor attention.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
