EURUSD Movement
For the 24 hours to 23:00 GMT, EUR traded flat against the USD and closed at 1.4547, after Standard & Poor’s Ratings Services stated that the French-led proposal to roll over the Greek government debt would likely put Greece in “selective default.”
In the Euro zone, the producer price index declined by 0.2% (M-o-M) in May following a 0.9% growth in April. Additionally, the sentix investor confidence rose to 5.3 points in July compared to 3.5 points in June.
In the Asian session, at 3:00GMT, the EURUSD is trading at 1.4487, 0.41% lower from the levels yesterday at 23:00GMT.
The pair has its first short term resistance at 1.4546, followed by the next resistance at 1.4606. The first support is at 1.4449, with the subsequent support at 1.4412.
Trading trends in the pair today are expected to be determined by data release on retail sales and services purchasing manager index in the Euro zone.
The currency pair is trading just below its 20 Hr and its 50 Hr moving averages.
