EURUSD Movement
For the 24 hours to 23:00 GMT, EUR declined 0.26% against the USD and closed at 1.4372, following a disappointing German business confidence data and on speculations that Germany could ban short-selling.
The euro also slipped against the greenback as investors remained cautious on the eve of US growth data and a key speech on the economy by Federal Reserve Chairman, Ben Bernanke.
In Germany, the GfK consumer sentiment index fell to 5.2 points in September, following a revised 5.3 points in August.
In the Asian session, at 3:00GMT, the EUR is trading at 1.4407, 0.24% higher against USD, from the levels yesterday at 23:00GMT,
The pair has its first short term resistance at 1.4480, followed by the next resistance at 1.4552. The first support is at 1.4330, with the subsequent support at 1.4252.
Trading trends in the pair today are expected to be determined by data released by money supply in the Eurozone.
The currency pair is showing convergence with its 20 Hr and its 50 Hr moving averages.
