EURUSD Movement
For the 24 hours to 23:00 GMT, EUR rose 0.09% against the USD and closed at 1.3077, after the Euro-zone finance ministers at a meeting in Brussels approved the long-delayed release of €49.1 billion in financial aid to Greece.
Additionally, investor confidence was boosted after the Finance ministers from the 27 European Union states finalized an agreement, giving the European Central Bank (ECB) more powers to oversee the functioning of banks in the Euro-zone region.
In the Asian session, at GMT0400, the pair is trading at 1.3088, with the EUR trading 0.08% higher from yesterday’s close.
After approving a deal on banking supervision and aid to Greece yesterday at a summit in Brussels, European leaders today agreed to press on with further steps to shore up their finances and sustain momentum in tackling the debt crisis.
The pair is expected to find support at 1.3053, and a fall through could take it to the next support level of 1.3017. The pair is expected to find its first resistance at 1.3112, and a rise through could take it to the next resistance level of 1.3136.
Investors are eyeing services and manufacturing purchasing managers’ index along with consumer price index to be released later today in the Euro-zone.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
