EURUSD Movement
For the 24 hours to 23:00 GMT, EUR rose 0.55% against the USD, on Friday, and closed at 1.4390.
The Economic and Monetary Affairs Commissioner, Olli Rehn, indicated that the European Commission plans to initiate the Euro bond proposal despite opposition from Germany and France.
In the economic news, the Producer Price Index (PPI) in Germany rose 0.7% (M-o-M) in July, following a 0.1% rise in the previous month.
In the Asian session, at 3:00GMT, the EURUSD is trading at 1.4372, 0.13% lower from the levels on Friday at 23:00GMT.
The pair has its first short term resistance at 1.4465, followed by the next resistance at 1.4557. The first support is at 1.4268, with the subsequent support at 1.4163.
The currency pair is showing convergence with its 20 Hr and its 50 Hr moving averages.
