EURUSD Movement
For the 24 hours to 23:00 GMT, EUR rose 1.08% against the USD, on Friday, and closed at 1.4637, after the European Officials agreed for a new aid package for Greece, easing concerns over the region’s debt crisis.
In the Euro zone, the services purchasing managers’ index (PMI) stood at 56.0 in May, from 56.7 in April. In Germany, the composite output index posted a reading of 57.1 in May, higher than the initial flash estimate of 56.4.
In the Asian session, at 3:00GMT, the EURUSD is trading at 1.4640, 0.02% higher from the levels yesterday at 23:00GMT.
The pair has its first short term resistance at 1.4716, followed by the next resistance at 1.4791. The first support is at 1.4507, with the subsequent support at 1.4373.
Trading trends in the pair today are expected to be determined by data release on sentix investor confidence in the Euro zone.
The currency pair is trading just above its 20 Hr and its 50 Hr moving averages.
