EURUSD Movement
For the 24 hours to 23:00 GMT, EUR declined 1.14% against the USD, on Friday, and closed at 1.4348, on persistent uncertainty over the Greek debt crisis.
In Germany, the wholesale price inflation, on monthly basis, remained unchanged in May, following a 0.2% rise in the previous month. Additionally, the harmonised index of consumer prices (HICP), on an annual basis, rose 2.4% in May, following 2.7% rise in April.
Moreover, the Bundesbank on Friday upgraded Germany’s 2011 growth estimate, and expects the GDP to grow 3.1% in 2011, upwardly revised from 2.5% previously.
In the Asian session, at 3:00GMT, the EURUSD is trading at 1.4344, 0.03% lower from the levels on Friday at 23:00GMT.
The pair has its first short term resistance at 1.4484, followed by the next resistance at 1.4624. The first support is at 1.4261, with the subsequent support at 1.4178.
The currency pair is trading below its 20 Hr and its 50 Hr moving averages.
