EUR/USD: Continues to rise in the Asian session

EUR USD

EURUSD Movement

For the 24 hours to 23:00 GMT, EUR rose 0.71% against the USD on Friday and closed at 1.3893.

In Germany, CPI rose by 0.5% (M-o-M) in February, compared to a decline of 0.4% in January. Additionally, WPI rose to 1.4% (M-o-M), from rise of 1.2% in January.

In the Asian session, at 4:00GMT, the EURUSD is trading at 1.3925, 0.23% higher from the levels yesterday at 23:00GMT.

The pair has its first short term resistance at 1.4013, followed by the next resistance at 1.4101. The first support is at 1.3803, with the subsequent support at 1.3681.

Trading trends in the pair today are expected to be determined by data release on industrial production in the EU.

The currency pair is trading well above its 20 Hr and 50 Hr moving averages.

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