EURUSD Movement
For the 24 hours to 23:00 GMT, EUR declined 0.20% against the USD and closed at 1.4444.
In the EU, on monthly basis, the industrial production rose by 0.4% in February from 0.2% rise in the previous month. The annual industrial production rose by 7.3% in February, compared to a revised 6.3% gain recorded in the previous month. In Germany, the monthly wholesale price index for March stood at1.3%, compared to a rate of 1.4% recorded in the previous month.
In the Asian session, at 3:00GMT, the EURUSD is trading at 1.4445, 0.01% higher from the levels yesterday at 23:00GMT.
The pair has its first short term resistance at 1.4509, followed by the next resistance at 1.4574. The first support is at 1.4392, with the subsequent support at 1.4340.
Trading trends in the pair today are expected to be determined by release of ECB monthly report for April.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
