EURUSD Movement
For the 24 hours to 23:00 GMT, the EUR declined 0.70% against the USD and closed at 1.1355.
On macro front, the Euro-zone’s Sentix investor confidence index sharply fell to a level of -0.3 in December, hitting its lowest level in four years, amid several ongoing political upheaval. In the previous month, the index recorded a level of 8.8, while market participants had anticipated for a decline to a level of 8.3.
Separately, Germany’s seasonally adjusted trade surplus narrowed to €17.3 billion in October, compared to a surplus of €17.7 billion in the prior month.
In the US, data showed that the US JOLTs job openings rose to a level of 7079.0K in October, following a revised reading of 6960.0K in the preceding month.
In the Asian session, at GMT0400, the pair is trading at 1.1365, with the EUR trading 0.09% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.1331, and a fall through could take it to the next support level of 1.1296. The pair is expected to find its first resistance at 1.1420, and a rise through could take it to the next resistance level of 1.1474.
Moving ahead, traders would keep an eye on the Euro-zone’s ZEW economic sentiment index for December along with Germany’s ZEW survey indices for December, set to release in a few hours. Later in the day, the US NFIB small business optimism index and the producer price index, both for November, will keep traders on their toes.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
