EURUSD Movement
For the 24 hours to 23:00 GMT, EUR declined 0.25% against the USD and closed at 1.3484.
Industrial production in the Eurozone fell by a modest 0.1% in December over the month. The German Finance Minister, Wolfgang Schaeuble indicated that focusing too much on the EFSF facility would send a wrong signal in the financial markets and lead to speculation.
In the Asian session, at 4:00GMT, the EURUSD is trading at 1.3519, 0.26% higher from the levels yesterday at 23:00GMT.
The pair has its first short term resistance at 1.3576, followed by the next resistance at 1.3633. The first support is at 1.3445, with the subsequent support at 1.3371.
In the EU, the European Union (EU) finance ministers meeting is likely to receive increased market attention, with GDP in Germany & trade balance in the EU also due to be released later today.
The currency pair is showing convergence with its 50 Hr moving average and is trading just above its 20 Hr moving average.
