EURUSD Movement
For the 24 hours to 23:00 GMT, EUR rose 0.93% against the USD and closed at 1.2859, as risk appetite rose, after the news that the International Monetary Fund has proposed increasing its lending capacity and amid speculation that Greek debt talks may be nearing a solution.
The optimism also grew among investors, after the German government sold €3.44 billion ($4.41 billion) of two-year bonds at an average yield of 0.17%, which neared a record low.
In the Asian session, at GMT0400, the pair is trading at 1.2868, with the EUR trading 0.07% higher from yesterday’s close.
The pair is expected to find support at 1.2775, and a fall through could take it to the next support level of 1.2683. The pair is expected to find its first resistance at 1.2920, and a rise through could take it to the next resistance level of 1.2971.
Trading trends in the pair today are expected to be determined by the release ECB monthly report and current account in Euro-zone.
The currency pair is trading well above its 20 Hr and its 50 Hr moving average.
