EURUSD Movement
For the 24 hours to 23:00 GMT, EUR declined 0.21% against the USD and closed at 1.4808.
Eurozone consumer price inflation flash estimate for the month of April surged to 2.8%.
Also, the unemployment rate in the Eurozone was 9.9% in March, unchanged compared with February. Eurozone money supply (M3) climbed more than expected 2.0% (MoM) in March.
Additionally, German retail sales on price-adjusted terms plunged 2.1% (MoM) in March, after falling 0.4% in February. Meanwhile, inflation in Italy rose for a fifth consecutive month to 2.6% in April, from 2.5% in March.
In the Asian session, at 3:00GMT, the EURUSD is trading at 1.4781, 0.18% lower from the levels yesterday at 23:00GMT.
The pair has its first short term resistance at 1.4853, followed by the next resistance at 1.4924. The first support is at 1.4736, with the subsequent support at 1.4690.
Trading trends in the pair today are expected to be determined by data release on purchasing manager index in the Eurozone.
The currency pair is trading slight above its 20 Hr and 50 Hr moving averages.
