EURUSD Movement
For the 24 hours to 23:00 GMT, EUR rose 1.04% against the USD and closed at 1.3789, after Eurogroup President, Jean-Claude Juncker proposed steps to resolve the eurozone crisis.
In economic news, industrial production in the eurozone rose 1.2% (MoM) in August, following a 1.1% rise in July. Additionally, in Germany, the Wholesale Price Index (WPI) rose 5.7% (Y-o-Y) in September, compared to 6.5% increase in August.
In the Asian session, at GMT0300, the pair is trading at 1.3785, with the EUR trading marginally lower from yesterday’s close.
The pair is expected to find support at 1.3646, and a fall through could take it to the next support level of 1.3507. The pair is expected to find its first resistance at 1.3879, and a rise through could take it to the next resistance level of 1.3973.
European Central Bank monthly report is likely to receive increased market attention today.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
