EURUSD Movement
For the 24 hours to 23:00 GMT, the EUR rose 0.15% against the USD and closed at 1.1403, after Britain and EU agreed on a draft text on their future relations after Brexit.
Macroeconomic data showed that the Euro-zone’s flash consumer confidence index declined to a level of -3.9 in November, more than market expectations for a fall to a level of -3.0. The index had recorded a reading of -2.7 in the previous month.
In the Asian session, at GMT0400, the pair is trading at 1.1416, with the EUR trading 0.11% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.1393, and a fall through could take it to the next support level of 1.1371. The pair is expected to find its first resistance at 1.1436, and a rise through could take it to the next resistance level of 1.1457.
Going forward, traders would await the Markit manufacturing and services PMIs for November, set to release across the euro-bloc. Later in the day, the US Markit manufacturing and services PMIs for November, will be on investors’ radar.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
