EURUSD Movement
For the 24 hours to 23:00 GMT, EUR declined 0.11% against the USD and closed at 1.4083, as Greece’s sovereign debt situation remained unresolved.
The European Central Bank Executive Board member, Juergen Stark, stated that the global imbalances remained a persistent problem and criticized lackluster progress in bringing them under control.
In Germany, the GfK consumer confidence index declined to a reading of 5.5 for June, compared to a score of 5.7 recorded for May.
In the Asian session, at 3:00GMT, the EURUSD is trading at 1.4159, 0.54% higher from the levels yesterday at 23:00GMT.
The pair has its first short term resistance at 1.4219, followed by the next resistance at 1.4279. The first support is at 1.4054, with the subsequent support at 1.3949.
Investors are eyeing ECB President Trichet’s speech to be released later today.
The currency pair is trading just above its 20 Hr and 50 Hr moving averages.
