Euro Trading Marginally Higher Ahead Of The Euro-Zone’s Industrial Produ
GCI Financial | Apr 14, 2015 02:37AM ET
For the 24 hours to 23:00 GMT, the EUR declined 0.35% against the USD and closed at 1.0574.
In economic news, current account deficit in France widened to €1.80 billion in February. The nation had registered a revised current account deficit of €0.20 billion in the prior month.
In the US, budget deficit narrowed to $52.91 billion in March, from a budget deficit of $192.35 billion in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.0576, with the EUR trading a tad higher from yesterday’s close.
The pair is expected to find support at 1.0525, and a fall through could take it to the next support level of 1.0473. The pair is expected to find its first resistance at 1.0623, and a rise through could take it to the next resistance level of 1.0669.
Trading trends in the pair today are expected to be determined by the Euro-zone’s industrial production data, scheduled in a few hours. Meanwhile, the US advance retail sales data, scheduled later today would be closely monitored by investors.
The currency pair is trading between 20 Hr and 50 Hr moving averages.
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