EURUSD Movement
For the 24 hours to 23:00 GMT, the EUR traded flat against the USD and closed at 1.1028.
Data showed that Euro-zone’s seasonally adjusted industrial production advanced 0.4% on a monthly basis in August, higher than market expectations for a rise of 0.3%. In the prior month, industrial production had registered a fall of 0.4%.
In the Asian session, at GMT0300, the pair is trading at 1.1028, with the EUR trading flat against the USD from yesterday’s close.
The pair is expected to find support at 1.1013, and a fall through could take it to the next support level of 1.0998. The pair is expected to find its first resistance at 1.1043, and a rise through could take it to the next resistance level of 1.1058.
Amid no major economic releases in the US today, traders would keep an eye on Euro-zone’s and Germany’s ZEW survey indices for October, set to release in a few hours.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
