EUR USD Movement
For the 24 hours to 23:00 GMT, EUR rose 0.01% against the USD and closed at 1.3904.
ECB Governing Council member, Axel Weber stated that it is up to governments and not monetary policy makers to carry out fiscal and structural revamps necessary to overcome divergences in the 17-member euro- area.
In Germany, industrial output rose by 1.8% (M-o-M) in January compared to the revised figure of decline by 0.6% in December. Additionally, on an annual basis, the industrial production grew 12.5% in January.
In the Asian session, at 4:00GMT, the EURUSD is trading at 1.3870, 0.24% lower from the levels yesterday at 23:00GMT.
The pair has its first short term resistance at 1.3919, followed by the next resistance at 1.3968. The first support is at 1.3844, with the subsequent support at 1.3818.
ECB monthly report is likely to receive increased market attention, with EU data due to be released later today.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
