EURUSD Movement
For the 24 hours to 23:00 GMT, EUR declined 0.36% against the USD and closed at 1.3740, after Standard&Poor’s downgraded Spain’s credit rating to AA- from AA with a negative outlook.
In economic news, on an annual basis, Consumer Price Index (CPI) in Germany rose 2.6% in September, following a 2.4% rise in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.3753, with the EUR trading 0.09% higher from yesterday’s close.
The pair is expected to find support at 1.3683, and a fall through could take it to the next support level of 1.3614. The pair is expected to find its first resistance at 1.3824, and a rise through could take it to the next resistance level of 1.3896.
Trading trends in the pair today are expected to be determined by data release on trade balance and Consumer Price index (CPI) in Eurozone.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
