EURUSD Movement
For the 24 hours to 23:00 GMT, EUR rose 0.19% against the USD, on Friday, and closed at 1.3505.
The Finance ministers and Central Bank governors of the Group of 20 major economies stated that they would work in a coordinated manner to put an end to the financial crisis engulfing Europe.
The Greek Finance Minister, Evangelos Venizelos, indicated that Greece would do “whatever it takes” to meet its budget goals. He also added that the country would always remain a member of the Euro-zone.
In the Asian session, at 3:00GMT, the EUR is trading at 1.3432, 0.54% lower against USD, from the levels Friday at 23:00GMT, as investors await more efforts from European officials to tackle the debt crisis.
The pair has its first short term resistance at 1.3524, followed by the next resistance at 1.3616. The first support is at 1.3375, with the subsequent support at 1.3318.
With a series of Germany economic releases today, including Business climate indicator and Economic expectations, trading in the pair is expected to be influenced by the resulting cues from these releases.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
