EURUSD Movement
For the 24 hours to 23:00 GMT, the EUR declined 0.38% against the USD and closed at 1.0912.
On the macro front, Euro-zone’s Sentix investor confidence index eased to 5.2 in February, amid rising concerns about the economic impact of the coronavirus outbreak and compared to a level of 7.6 in the previous month.
In the Asian session, at GMT0400, the pair is trading at 1.0913, with the EUR trading marginally higher against the USD from yesterday’s close.
The pair is expected to find support at 1.0895, and a fall through could take it to the next support level of 1.0876. The pair is expected to find its first resistance at 1.0945, and a rise through could take it to the next resistance level of 1.0976.
In absence of crucial macroeconomic releases in the Euro-zone today, investors would keep a close watch on the US NFIB business optimism index for January and JOLTS job openings for December, slated to release later today.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
