EURUSD Movement
For the 24 hours to 23:00 GMT, EUR rose 1.04% against the USD, on Friday, and closed at 1.3883, on optimism that eurozone authorities would come up with the plan to contain the region’s debt crisis.
In economic news, the Consumer Price Index (CPI) in the Euro-zone stood at 3.0% (Y-o-Y) in September, matching initial estimates. Additionally, the trade balance recorded a deficit of €3.4 billion in August, compared to a trade surplus of €2.5 billion in July.
In the Asian session, at GMT0300, the pair is trading at 1.3853, with the EUR trading 0.22% lower from Friday’s close.
The pair is expected to find support at 1.3767, and a fall through could take it to the next support level of 1.3680. The pair is expected to find its first resistance at 1.3917, and a rise through could take it to the next resistance level of 1.3980.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
