EURUSD Movement
For the 24 hours to 23:00 GMT, EUR rose 0.24% against the USD and closed at 1.4111.
In Germany, the GfK consumer sentiment index fell to 5.9 for April, following a reading of 6.0 posted for March. The consumer price inflation, on a monthly basis, stood at 0.5% in March, unchanged from the rate in the previous month. Meanwhile, the harmonized index of consumer prices (HCIP) climbed 0.5% (M-o-M) in March, following a 0.6% rise reported in February.
In the Asian session, at 3:00GMT, the EURUSD is trading at 1.4078, 0.23% lower from the levels yesterday at 23:00GMT.
The pair has its first short term resistance at 1.4137, followed by the next resistance at 1.4197. The first support is at 1.4031, with the subsequent support at 1.3985.
The pair is expected to trade on the cues from the release of data on industrial confidence, economic confidence and consumer confidence in the Euro Zone.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
