EURUSD Movement
For the 24 hours to 23:00 GMT, the EUR declined 0.44% against the USD and closed at 1.1741.
On the macro front, Euro-zone’s Sentix investor confidence index rose to -13.4 in August, recording its highest level since February and more than market forecast for a rise to a level of -15.2. In the prior month, the index had recorded a reading of -18.2 in the prior month.
In the US, the JOLTS job openings unexpectedly climbed to 5.9 million in June, defying market consensus for a drop to a level of 4.9 million and compared to a revised reading of 5.4 million in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.1744, with the EUR trading marginally higher against the USD from yesterday’s close.
The pair is expected to find support at 1.1710, and a fall through could take it to the next support level of 1.1677. The pair is expected to find its first resistance at 1.1789, and a rise through could take it to the next resistance level of 1.1835.
Going forward, traders would keep a watch on Euro-zone’s ZEW survey economic sentiment for August along with Germany’s ZEW survey current situation and economic sentiment, both for August, slated to release in a few hours. Later in the day, the US NFIB business optimism index and the producer price index, both for July, would keep investors on their toes.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
