EURUSD Movement
For the 24 hours to 23:00 GMT, EUR rose 0.65% against the USD and closed at 1.4779, as the Federal Reserve left its interest rates unchanged at near-zero levels.
In the Euro Zone, the industrial new orders, on monthly basis, rose by 0.9% in February compared to 1.2% increase in the previous month. Meanwhile, the German consumer confidence declined to 5.7 in May compared to 5.9 in April. The German leading economic index rose by 0.7% to a reading of 107.9 in February, following a 0.6% increase in the previous month. Additionally, the German consumer price index (CPI), on annual basis, climbed 2.4% in April, compared to the 2.1% gain posted in the previous month.
In the Asian session, at 3:00GMT, the EURUSD is trading at 1.4866, 0.59% higher from the levels yesterday at 23:00GMT.
The pair has its first short term resistance at 1.4954, followed by the next resistance at 1.5043. The first support is at 1.4703, with the subsequent support at 1.4541.
Trading trends in the pair today are expected to be determined by release of data on unemployment rate in the Euro Zone.
The currency pair is showing with its 20 Hr moving average and is trading just above its 50 Hr moving average.
