EURUSD Movement
For the 24 hours to 23:00 GMT, EUR declined 2.14% against the USD and closed at 1.3529, after Italian government bond yields rose to 7.5%, raising fears that the country would need a bailout.
In the Asian session, at GMT0400, the pair is trading at 1.3533, with the EUR trading flat from yesterday’s close.
The pair is expected to find support at 1.3419, and a fall through could take it to the next support level of 1.3305. The pair is expected to find its first resistance at 1.3743, and a rise through could take it to the next resistance level of 1.3953.
Trading trends in the pair today are expected to be determined by release of Consumer Price Index (CPI) and Wholesale Price Index in Germany.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
