EURUSD Movement
For the 24 hours to 23:00 GMT, EUR rose 0.27% against the USD and closed at 1.3576, after the German Parliament voted for an increase in the size and flexibility of the Euro-zone rescue fund.
In the Euro zone, consumer confidence dropped to -19.1 in September, from -16.5 in August. The economic confidence decreased to 95.0 in September from 98.4 in August. The industrial confidence declined to -5.9 in September from -2.7 in August.
Additionally, in Germany, the unemployment rate decreased to 6.9% in September, from 7% in August. The number of unemployed people decreased by 26,000 in September, following a 9,000 drop in August.
In the Asian session, at 3:00GMT, the EUR is trading at 1.3543, 0.24% lower against USD, from the levels yesterday at 23:00GMT.
The pair has its first short term resistance at 1.3637, followed by the next resistance at 1.3732. The first support is at 1.3490, with the subsequent support at 1.3438.
With a series of Euro zone economic releases today, including Consumer Price Index (CPI) and unemployment rate, trading in the pair is expected to be influenced by the resulting cues from these releases.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
