EURUSD Movement
For the 24 hours to 23:00 GMT, EUR rose 0.36% against the USD and closed at 1.4339, on speculation that the European officials would approve additional assistance for Greece, thus increasing demand for the region’s assets.
The Euro-zone finance ministers’ group Head, Jean-Claude Juncker stated that the European Union leaders would decide on additional aid for Greece by the end of June and that they have ruled out a “total restructuring” of the nation’s debt. Investors speculated that, Germany may stop demanding an early rescheduling of bonds for Greece so that it can get a new package of loans.
In the Asian session, at 3:00GMT, the EURUSD is trading at 1.4388, 0.34% higher from the levels yesterday at 23:00GMT.
The pair has its first short term resistance at 1.4446, followed by the next resistance at 1.4503. The first support is at 1.4292, with the subsequent support at 1.4195.
Trading trends in the pair today are expected to be determined by data release on unemployment rate and consumer price index in the euro zone.
The currency pair is showing convergence with its 20 Hr and its 50 Hr moving averages.
