EURUSD Movement
For the 24 hours to 23:00 GMT, EUR rose 0.27% against the USD and closed at 1.4821.
The European Central Bank (ECB), in its Financial Integration report indicated that the normalization of Euro-zone bank lending conditions is proceeding progressively.
In the Euro zone, the manufacturing purchasing manager index rose to 58.0 in April from 57.5 in March. Additionally, German manufacturing purchasing manager index rose to 62.0 in April from 60.9 in March.
In the Asian session, at 3:00GMT, the EURUSD is trading at 1.4799, 0.15% lower from the levels yesterday at 23:00GMT.
The pair has its first short term resistance at 1.4882, followed by the next resistance at 1.4964. The first support is at 1.4738, with the subsequent support at 1.4676.
Trading trends in the pair today are expected to be determined by release of the producer price index in the Euro zone.
The currency pair is trading just below its 20 Hr and 50 Hr moving averages.
