EURUSD Movement
For the 24 hours to 23:00 GMT, the EUR rose 0.32% against the USD and closed at 1.1207, after the Euro-zone GDP data showed that the region’s economy quickened more than expected in the second quarter of 2015.
The Euro-zone GDP rose 0.4% QoQ in Q2 2015, beating market expectations for a gain of 0.3% and following an expansion of 0.5% in the prior quarter.
Other macroeconomic data revealed that Germany’s current account as well as trade surplus figures narrowed more than anticipated in the month of July.
In the US, consumer credit dropped to $19.10 billion in July, from prior month’s revised level of 27.02 billion.
In the Asian session, at GMT0300, the pair is trading at 1.1178, with the EUR trading 0.26% lower from yesterday’s close.
The pair is expected to find support at 1.1144, and a fall through could take it to the next support level of 1.1109. The pair is expected to find its first resistance at 1.1221, and a rise through could take it to the next resistance level of 1.1264.
Amid no major economic releases in Europe today, investors would now eye for Friday’s German inflation data.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
