EURUSD Movement
For the 24 hours to 23:00 GMT, EUR rose 0.05% against the USD and closed at 1.4369.
Yesterday, Standard & Poor’s lowered the credit rating of Greece to B from BB-, over concerns that peripheral debt problems would force European officials to change the terms of its bailouts.
In the Euro zone, Sentix Investor Confidence declined to 10.9 in May from 14.2 in April. In Germany, trade surplus rose to €18.9 billion in March from €11.9 billion in February. Additionally, the current account surplus rose to €19.5 billion in March from €18.8 billion recorded in last year.
In the Asian session, at 3:00GMT, the EURUSD is trading at 1.4335, 0.24% lower from the levels yesterday at 23:00GMT.
The pair has its first short term resistance at 1.4412, followed by the next resistance at 1.4489. The first support is at 1.4255, with the subsequent support at 1.4175.
The currency pair is showing convergence with its 20 Hr moving average and is trading just below its 50 Hr moving average.
