EURUSD Movement
For the 24 hours to 23:00 GMT, EUR rose 0.14% against the USD and closed at 1.3592.
ECB governing Council member, Yves Mersch, stated that the bank could raise interest rates to contain inflation even before it exited measures to support liquidity in the euro region.
In the EU, Sentix Investor confidence measuring sentiment in the Euro Zone rose to 16.7 in February from 10.6 in January. Meanwhile, German factory orders fell 3.4% in December (M-o-M) adjusting for seasonal swings and inflation.
In the Asian session, at 4:00GMT, the EURUSD is trading at 1.3618, 0.19% higher from the levels yesterday at 23:00GMT.
The pair has its first short term resistance at 1.3662, followed by the next resistance at 1.3706. The first support is at 1.3539, with the subsequent support at 1.3460.
The pair is trading just above the 20 Hr and the 50 Hr moving averages.
Trading trends in the pair today are expected to be determined by data release on Germany’s industrial production.
