For the 24 hours to 23:00 GMT, the EUR rose 0.73% against the USD and closed at 1.0811, after a strong debate performance from French centrist Presidential candidate, Emmanuel Macron, thus cementing his position as the front-runner in the election race.
In the US, the Cleveland Federal Reserve (Fed) President, Loretta Mester, expects the US central bank to hike interest rates more than three times this year.
In the Asian session, at GMT0400, the pair is trading at 1.0792, with the EUR trading 0.18% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.0756, and a fall through could take it to the next support level of 1.0719. The pair is expected to find its first resistance at 1.0824, and a rise through could take it to the next resistance level of 1.0855.
Going ahead, investors will look forward to the Euro-zone’s current account data for January, slated to release in a few hours. Additionally, traders would eye the US existing home sales for February and the house price index for January, slated to release later in the day.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
