EURUSD Movement
For the 24 hours to 23:00 GMT, EUR rose 0.06% against the USD and closed at 1.4120, after European Central Bank member, Lorenzo Bini Smaghi indicated that the ECB may hike rates in a series rather than just one-off rate hike.
In the Euro Zone, in March, the consumer confidence index declined to -10.6, from a reading of -10.0 in February. The economic confidence declined to 107.3 compared to the previous reading of 107.9 in February, while industrial confidence remained unchanged at 6.6.
In the Asian session, at 3:00GMT, the EURUSD is trading at 1.4132, 0.08% higher from the levels yesterday at 23:00GMT.
The pair has its first short term resistance at 1.4171, followed by the next resistance at 1.4211. The first support is at 1.4070, with the subsequent support at 1.4009.
Trading trends in the pair today are expected to be determined by data release on unemployment Rate in the Euro Zone.
The currency pair is trading just above its 20 Hr and 50 Hr moving averages.
