EURUSD Movement
For the 24 hours to 23:00 GMT, the EUR rose 0.12% against the USD and closed at 1.1270 on Friday.
On the macro front, the Euro-zone’s seasonally adjusted industrial production rose 0.9% on a monthly basis in May, more than market consensus for a gain of 0.2%. In the preceding month, industrial production had recorded a revised drop of 0.4%.
In the US, data showed that the producer price index climbed 1.7% on a yearly basis in June, surpassing market expectations for an advance of 1.6%. In the prior month, the index had registered a rise of 1.8%.
In the Asian session, at GMT0300, the pair is trading at 1.1272, with the EUR trading a tad higher against the USD from Friday’s close.
The pair is expected to find support at 1.1248, and a fall through could take it to the next support level of 1.1225. The pair is expected to find its first resistance at 1.1285, and a rise through could take it to the next resistance level of 1.1299.
Amid lack of macroeconomic releases in the Euro-zone today, traders would keep an eye on the US Empire State Manufacturing Index for July, set to release later in the day.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
