EURUSD Movement
For the 24 hours to 23:00 GMT, EUR declined marginally against the USD and closed at 1.3236, as strong US manufacturing data spurred investors to greenback, while Spanish economic recovery concerns continued to weigh on investor sentiment.
In the Asian session, at GMT0300, the pair is trading at 1.3222, with the EUR trading 0.11% lower from yesterday’s close.
The pair is expected to find support at 1.3190, and a fall through could take it to the next support level of 1.3157. The pair is expected to find its first resistance at 1.3269, and a rise through could take it to the next resistance level of 1.3316.
Trading trends in the pair today are expected to be determined by release of manufacturing purchasing manager index and unemployment rate in Euro-zone.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
