EURUSD Movement
For the 24 hours to 23:00 GMT, EUR rose 0.35% against the USD and closed at 1.4174, on hopes that European officials would make progress to provide further aid for Greece at a summit later this week.
In the economic news, the economic sentiment index in the Euro-zone declined to a reading of -7.0 in July, following a reading of -5.9 posted in the previous month. Additionally, the construction output declined by 1.1% (M-o-M) in May, following a 1.2% rise recorded in April.
In the German economic news, the economic sentiment index declined to a reading of -15.1 in July, following a reading of -9.0 posted in June. Additionally, the current economic situation index increased to a reading of 90.6 in July, compared to a reading of 87.6 posted in June.
In the Asian session, at 3:00GMT, the EURUSD is trading at 1.4157, 0.12% lower from the levels yesterday at 23:00GMT.
The pair has its first short term resistance at 1.4228, followed by the next resistance at 1.4299. The first support is at 1.4077, with the subsequent support at 1.3997.
Trading trends in the pair today are expected to be determined by release of consumer confidence data in the Euro zone.
The currency pair is showing convergence with its 20 Hr moving average and is trading just above its 50 Hr moving average.
