EURUSD Movement
For the 24 hours to 23:00 GMT, EUR declined 1.00% against the USD and closed at 1.3745, after German Chancellor Angela Merkel tempered investors’ expectations that the European leaders would come up with a comprehensive solution to resolve debt crisis.
In the Asian session, at GMT0300, the pair is trading at 1.3764, with the EUR trading 0.14% higher from yesterday’s close.
The pair is expected to find support at 1.3688, and a fall through could take it to the next support level of 1.3612. The pair is expected to find its first resistance at 1.3877, and a rise through could take it to the next resistance level of 1.3990.
Trading trends in the pair today are expected to be determined by release of ZEW Survey – Economic Sentiment Index in the Eurozone.
The currency pair is trading just below its 20 Hr and 50 Hr moving averages.
