EURUSD Movement
For the 24 hours to 23:00 GMT, EUR declined 0.15% against the USD and closed at 1.4409, after another round of downbeat economic data in Europe dented investor sentiment.
New industrial orders in the Euro-zone declined unexpectedly by 0.7% (MoM) in June, compared to a 3.6% increase recorded in May. In Germany, the Ifo business climate index declined to 108.7 in August, following a reading of 112.9 recorded in July, while the current conditions index fell to 118.1 in August, following a reading of 121.4 recorded in July.
In the Asian session, at 3:00GMT, the EURUSD is trading at 1.4399, 0.07% lower from the levels yesterday at 23:00GMT.
The pair has its first short term resistance at 1.4462, followed by the next resistance at 1.4524. The first support is at 1.4357, with the subsequent support at 1.4314.
Trading trends in the pair today are expected to be determined by consumer confidence data in Germany.
The currency pair is trading just below its 20 Hr and its 50 Hr moving averages.
