EURUSD Movement
For the 24 hours to 23:00 GMT, EUR declined 1.54% against the USD, on Friday, and closed at 1.4317, after a report that Greece is considering withdrawal from the Euro zone.
In Germany, industrial production, on monthly basis, declined to 0.7% in March from 1.7% in February.
In the Asian session, at 3:00GMT, the EURUSD is trading at 1.4393, 0.53% higher from the levels yesterday at 23:00GMT, on speculation that the region’s debt crisis won’t keep the European Central Bank from increasing interest rates further.
The pair has its first short term resistance at 1.4552, followed by the next resistance at 1.4711. The first support is at 1.4270, with the subsequent support at 1.4147.
Trading trends in the pair today are expected to be determined by release of sentix investor confidence in the Euro zone.
The currency pair is trading just below its 20 Hr moving average and well below its 50 Hr moving average.
