For the 24 hours to 23:00 GMT, the EUR slightly rose against the USD and closed at 1.1469.

Data indicated that the Euro-zone’s seasonally adjusted industrial production fell by 1.7% on a monthly basis in November, registering its largest decline in three-years and compared to a revised rise of 0.1% in the previous month. Market participants had anticipated the industrial production to drop by 1.5%.

In the Asian session, at GMT0400, the pair is trading at 1.1483, with the EUR trading 0.12% higher against the USD from yesterday’s close.

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The pair is expected to find support at 1.1459, and a fall through could take it to the next support level of 1.1436. The pair is expected to find its first resistance at 1.1498, and a rise through could take it to the next resistance level of 1.1514.

Going ahead, traders would closely monitor the Euro-zone’s gross domestic product followed by trade balance data for November, scheduled to release in a few hours. Later in the day, the US Empire State manufacturing index for January and the producer price index for December, will be on investors radar.

The currency pair is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.


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