EURUSD Movement
For the 24 hours to 23:00 GMT, EUR rose 0.57% against the USD and closed at 1.3681, following expectations that a Greek default would be averted.
Meanwhile, the Fitch credit rating agency, yesterday, affirmed Germany’s AAA rating with a stable outlook.
In Germany, the Producer Price Index (PPI) declined 0.3% (M-o-M) in August, following 0.7% growth in July. The ZEW economic sentiment dropped to -43.3 in September, from -37.6 in August. Additionally, the current situation decreased to 43.6 in September, following a reading of 53.5 in August.
Meanwhile, in the Euro zone, the economic sentiment decreased to -44.6 in September, compared to -40.0 in August.
In the Asian session, at 3:00GMT, the EUR is trading at 1.3709, 0.20% higher against the USD, from the levels yesterday at 23:00GMT.
The pair has its first short term resistance at 1.3771, followed by the next resistance at 1.3834. The first support is at 1.3620, with the subsequent support at 1.3532.
The currency pair is trading just above its 20 Hr and 50 Hr moving averages.
