EURUSD Movement
For the 24 hours to 23:00 GMT, EUR rose 0.24% against the USD and closed at 1.4325, after European officials reassured investors over the Greece default.
The Euro zone finance ministers, yesterday, stated that a clear, new financing strategy for Greece would be defined by early July. The euro was stable, even as pressure mounted on Greece to commit to sweeping austerity measures in exchange for financial assistance.
In economic news, the current account deficit in the Euro zone increased to seasonally adjusted €5.1 billion in April from €3 billion in March. In Germany, the producer price index rose by 6.1% (Y-o-Y) in May from 6.4% increase in the previous month.
In the Asian session, at 3:00GMT, the EURUSD is trading at 1.4334, 0.06% higher from the levels yesterday at 23:00GMT.
The pair has its first short term resistance at 1.4415, followed by the next resistance at 1.4496. The first support is at 1.4222, with the subsequent support at 1.4110.
Trading trends in the pair today are expected to be determined by release of data on economic sentiment in the Euro zone.
The currency pair is trading just above its 20 Hr and its 50 Hr moving averages.
