EURUSD Movement
For the 24 hours to 23:00 GMT, EUR rose 0.29% against the USD and closed at 1.4366, after news the Greece’s Prime Minister George Papandreou had won a vote of confidence, seen as the first step in winning financing that would avoid defaulting on sovereign debt.
In the economic news, in the Euro zone, the economic sentiment decreased to -5.9 points in June, compared to a reading of 13.6 points in May. In Germany, the economic sentiment dropped to -9.0 points in June from 3.1 in May. Meanwhile, the current situation registered a decline to 87.6 points in June, following 91.5 points in May.
In the Asian session, at 3:00GMT, the EURUSD is trading at 1.4365, flat from the levels yesterday at 23:00GMT.
The pair has its first short term resistance at 1.4428, followed by the next resistance at 1.4490. The first support is at 1.4309, with the subsequent support at 1.4252.
Trading trends in the pair today are expected to be determined by data release on industrial new orders and consumer confidence in the Euro zone.
The currency pair is trading between its 20 Hr and its 50 Hr moving averages.
