EURUSD Movement
For the 24 hours to 23:00 GMT, the EUR declined 0.32% against the USD and closed at 1.1219 on Friday.
On the data front, Euro-zone’s producer price index advanced 1.2% on an annual basis in June, undershooting market expectations for a gain of 1.5%. The index had recorded a climb of 1.9% in the previous month.
In the US, data showed that the flash Reuters/Michigan consumer sentiment index rose to a level of 98.4 in July, less than market anticipations for an increase to a level of 98.8. The index had recorded a level of 98.2 in the preceding month.
In the Asian session, at GMT0300, the pair is trading at 1.1216, with the EUR trading a tad lower against the USD from Friday’s close.
The pair is expected to find support at 1.1191, and a fall through could take it to the next support level of 1.1165. The pair is expected to find its first resistance at 1.1255, and a rise through could take it to the next resistance level of 1.1293.
Amid lack of macroeconomic releases in the Euro-zone today, traders would closely monitor the US Chicago Fed National Activity Index for June, slated to release later in the day.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
