EURUSD Movement
For the 24 hours to 23:00 GMT, EUR declined 0.46% against the USD and closed at 1.4579, after the Euro-zone Finance Minister, Jean-Claude Juncker stated that second Greek bailout was not yet certain, although speculation that Greece would be able to avert default on its massive debt should limit the currency’s losses.
In the Euro zone, the producer price inflation, on monthly basis, rose by 0.9% in April, following a 0.8% increase in the previous month. Meanwhile, the sentix investor sentiment index declined to 3.5 points in June, from 10.9 points in May.
In the Asian session, at 3:00GMT, the EURUSD is trading at 1.4580, flat from the levels yesterday at 23:00GMT.
The pair has its first short term resistance at 1.4643, followed by the next resistance at 1.4706. The first support is at 1.4535, with the subsequent support at 1.4490.
Trading trends in the pair today are expected to be determined by data release on retail sales in the Euro zone.
The currency pair is showing convergence with its 20 Hr and its 50 Hr moving averages.
