EURUSD Movement
For the 24 hours to 23:00 GMT, EUR rose 0.44% against the USD and closed at 1.3825, following reports that stated that Italian Prime Minister, Silvio Berlusconi would resign after the 2012 budget is approved.
In economic news in Germany, the current account of the balance of payments showed a surplus of €15.7 billion in September, compared to downwardly revised €6.5 billion surplus in August. The trade surplus increased to €17.4 billion in September from €11.8 billion in August. The trade deficit in France widened to €6.3 billion in September, compared to a trade deficit of €4.3 billion recorded in August.
In the Asian session, at GMT0400, the pair is trading at 1.3836, with the EUR trading 0.08% higher from yesterday’s close.
The pair is expected to find support at 1.3754, and a fall through could take it to the next support level of 1.3673. The pair is expected to find its first resistance at 1.3888, and a rise through could take it to the next resistance level of 1.3941.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
