EURUSD Movement
For the 24 hours to 23:00 GMT, the EUR rose 0.36% against the USD and closed at 1.1600.
In the economic news, Germany’s seasonally adjusted trade surplus widened to €21.8 billion in June, more than market expectations for a trade surplus of €20.9 billion. The nation had registered a trade surplus of €19.7 billion in the previous month. Meanwhile, the nation’s seasonally adjusted industrial production retreated 0.9% on a monthly basis in June, higher than market expectations for a decline of 0.5%. In the previous month, industrial production had climbed 2.60%.
In the US, data indicated that US consumer credit advanced less than expected to $10.21 billion in June, after registering a revised rise of $24.3 billion in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.1609, with the EUR trading 0.08% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.1571, and a fall through could take it to the next support level of 1.1532. The pair is expected to find its first resistance at 1.1629, and a rise through could take it to the next resistance level of 1.1648.
Later in the day, investor sentiment will be determined by the release of the US MBA mortgage applications.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
