EURUSD Movement
For the 24 hours to 23:00 GMT, EUR declined 0.10% against the USD and closed at 1.4372, after Moody’s Investors Service cut Greece’s credit rating.
Moody’s Investors Service lowered Greece’s credit ratings from ‘Caa1’ to ‘Ca’, stating that the European Union’s rescue would set a negative precedent for creditors of other debt-strapped euro-zone nations.
In the Asian session, at 3:00GMT, the EURUSD is trading at 1.4469, 0.67% higher from the levels yesterday at 23:00GMT.
The pair has its first short term resistance at 1.4524, followed by the next resistance at 1.4580. The first support is at 1.4367, with the subsequent support at 1.4266.
The currency pair is trading just above its 20 Hr and its 50 Hr moving averages.
