EURUSD Movement
For the 24 hours to 23:00 GMT, EUR rose 0.72% against the USD and closed at 1.4334, after a key economic report out of the euro zone showed surprising growth in the region.
In the Euro zone, the manufacturing purchasing manager index rose to 57.7 in April from 57.5 in March. Additionally, the services PMI in France climbed to a reading of 63.4 in April, the highest since September 2000, following a reading of 60.4 posted in March. In Germany, the PMI for manufacturing rose to a reading of 61.7 in April, compared to a reading of 60.9 posted in the previous month.
In the Asian session, at 3:00GMT, the EURUSD is trading at 1.4395, 0.43% higher from the levels yesterday at 23:00GMT.
The pair has its first short term resistance at 1.4472, followed by the next resistance at 1.4549. The first support is at 1.4260, with the subsequent support at 1.4125.
Trading trends in the pair today are expected to be determined by data release on producer price index in the Euro zone.
The currency pair is trading just above its 20 Hr and 50 Hr moving averages.
