EURUSD Movement
For the 24 hours to 23:00 GMT, the EUR declined 0.25% against the USD and closed at 1.1022 on Friday.
On the data front, Germany’s seasonally adjusted trade surplus unexpectedly widened to €19.2 billion in September, amid surge in exports and defying market consensus to narrow to €18.1 billion. In the prior month, the nation had posted a revised surplus of €18.7 billion.
In the US, data showed that the flash Reuters/Michigan consumer sentiment index climbed less-than-expected to a level of 95.7 in November, compared to a level of 95.5 in the previous month. Market participants had anticipated the index to rise to a level of 95.9.
In the Asian session, at GMT0400, the pair is trading at 1.1023, with the EUR trading a tad higher against the USD from Friday’s close.
The pair is expected to find support at 1.1008, and a fall through could take it to the next support level of 1.0994. The pair is expected to find its first resistance at 1.1046, and a rise through could take it to the next resistance level of 1.1070.
Amid lack of macroeconomic releases in the Euro-zone and the US today, traders would keep an eye on the global macroeconomic releases for further directions.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
