EURUSD Movement
For the 24 hours to 23:00 GMT, EUR declined 0.15% against the USD and closed at 1.3655.
German Gfk consumer confidence survey for the month of March rose to 6.0 compared with 5.8 in February. Meanwhile, in the US, consumer confidence for February edged up to 70.4, from 64.8 posted in January.
The European Central Bank Governing Council member, Yves Mersch has stated that the ECB may need to adjust its monetary policy as pricing pressures increase.
In the Asian session, at 4:00GMT, the EURUSD is trading at 1.3695, 0.29% higher from the levels yesterday at 23:00GMT.
The pair has its first short term resistance at 1.3763, followed by the next resistance at 1.3831. The first support is at 1.3576, with the subsequent support at 1.3457.
Trading trends in the pair today are expected to be determined by data release on industrial new orders in the EU.
The currency pair is trading just above its 20 Hr and 50 Hr moving average.
