EURUSD Movement
For the 24 hours to 23:00 GMT, EUR rose 0.15% against the USD, on Friday, and closed at 1.4248. The greenback came under pressure, after the reports showed that the US consumer confidence fell more than expected in August.
The Italian Prime Minister, Silvio Berlusconi’s Cabinet approved €45.5 billion in deficit cuts to balance the budget and tried to convince investors that the country can tame the region’s second-biggest debt.
In the economic news, the consumer sentiment index in the US decreased to 54.9 in August, from 63.7 in July.
In the Euro Zone, the industrial production declined 0.7% (M-o-M) in June, following 0.2% growth in May.
In the Asian session, at 3:00GMT, the EURUSD is trading at 1.4296, 0.34% higher from the levels Friday at 23:00GMT.
The pair has its first short term resistance at 1.4361, followed by the next resistance at 1.4426. The first support is at 1.4189, with the subsequent support at 1.4082.
The currency pair is trading above its 20 Hr and its 50 Hr moving averages.
