The single currency of the European Union region fluctuated in a narrow upward range during the Asian session to see its rebound for the second straight session since July 9 when its lowest since June 19 against the US dollar was tested amid tight economic data from Ahead of euro-zone economies and on the eve of developments and economic data expected Thursday by the US.
At 04:41 am GMT, the EURUSD rose 0.13% to 1.1239, compared to the opening at 1.1224, the pair's low during the session, while the pair reached a high of 1.1242.
Investors are currently waiting for the US economy to read the Jobless Claims reading for the week ending on the 13th of this month, which could reflect a rise of 7K to 216K vs. 209K in the previous week's reading. On the sixth of this month decreased by 23 thousand applications to 1,700 thousand applications against 1,723 thousand applications.
The markets are also looking to release the Philadelphia Manufacturing Index, which may reflect a widening to 5.0 vs. 0.3 in June, ahead of the leading index reading, which could show 0.1% growth versus zero in May, And Federal Reserve Bank of New York Chairman John Williams on monetary policy at the annual meeting of the Central Bank Research Association in New York.
Technical Analysis
The EUR / USD pair is showing a quiet upward trend to test the SMA 50, and the price continues to fluctuate between the pivotal levels of 1.1180 and resistance at 1.1295. As noted yesterday, the price needs to break through one of these levels to define its next target more precisely, thus keeping us neutral so far. .
We will note that breaking this support will push the pair to further decline and head towards 1.1100 as a next downside, while breaking the resistance will lead the price to start new recovery attempts targeting 1.1350 and then 1.1443 initially.
The trading range for today is among the key support at 1.1150 and resistance at 1.1330
The expected general trend today: Depends on the levels mentioned in the report