EURUSD Movement
For the 24 hours to 23:00 GMT, EUR rose 0.33% against the USD and closed at 1.3660, after the reports that Italy had asked China to make “significant” purchases of Italian debt. Euro also rose against the greenback after the European Central Bank President Jean-Claude Trichet, stated that central banks across the globe “stand ready” to act if needed to bolster the global economy. Euro was also supported by the French government’s statement on Monday that the French banks can cope with the crisis in Greece.
In the Asian session, at 3:00GMT, the EUR is trading at 1.3671, 0.08% higher against USD, from the levels yesterday at 23:00GMT.
The pair has its first short term resistance at 1.3746, followed by the next resistance at 1.3822. The first support is at 1.3544, with the subsequent support at 1.3418.
The currency pair is trading between its 20 Hr and its 50 Hr moving averages.
