EURUSD Movement
For the 24 hours to 23:00 GMT, the EUR rose 0.16% against the USD and closed at 1.1277, after the Euro-zone’s Sentix investor confidence index unexpectedly rose to a nearly 10-year high level of 28.4 in June, as the upturn in investor sentiment was boosted by stronger growth and falling unemployment across the common currency region, while markets expected the index to remain steady at a level of 27.4.
Meanwhile, the region’s seasonally adjusted retail sales rose less-than-expected by 0.1% on a monthly basis in April, rising for the fourth consecutive month and compared to market consensus for an advance of 0.2%. In the previous month, retail sales had registered a revised rise of 0.2%.
In the US, data revealed that JOLTs job openings surprisingly advanced to a record-high level of 6044.0K in April, compared to investor consensus for a drop to a level of 5750.0K. In the previous month, JOLTs job openings had registered a revised reading of 5785.0K.
In the Asian session, at GMT0300, the pair is trading at 1.1266, with the EUR trading 0.1% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.1243, and a fall through could take it to the next support level of 1.1219. The pair is expected to find its first resistance at 1.1287, and a rise through could take it to the next resistance level of 1.1307.
Going ahead, investors will look forward to Germany’s factory orders for April and construction PMI for May, along with the OECD’s economic outlook report for the Euro-zone, slated to release in a few hours.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
