EURUSD Movement
For the 24 hours to 23:00 GMT, EUR rose 0.69% against the USD and closed at 1.3866.
In the EU, PPI index rose by 1.5% (M-o-M) in January compared to 0.8% in the previous month. Market had forecasted a 1.1% (M-o-M) rise in January.
In the Asian session, at 4:00GMT, the EURUSD is trading at 1.3860, 0.04% lower from the levels yesterday at 23:00GMT.
The pair has its first short term resistance at 1.3917, followed by the next resistance at 1.3975. The first support is at 1.3776, with the subsequent support at 1.3693.
ECB interest rate decision is likely to receive increased market attention, with series of EU data due to be released later today.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
