EURUSD Movement
For the 24 hours to 23:00 GMT, EUR declined 0.29% against the USD and closed at 1.3868.
A summit in Europe failed to clear up doubts about the euro-zone, putting pressure on the Euro. Meanwhile, the greenback gained after new home sales in the US rose more-than-expected in September, easing recent fears about the economy.
In Germany, the import price inflation rose 0.6% (M-o-M), compared to 0.7% decline in previous month.
In the Asian session, at GMT0300, the pair is trading at 1.3964, with the EUR trading 0.69% higher from yesterday’s close, after European leaders announced a deal early this morning in which private-sector holders of Greek government debt would take a 50% write-down on the value of their holdings.
The pair is expected to find support at 1.3844, and a fall through could take it to the next support level of 1.3724. The pair is expected to find its first resistance at 1.4039, and a rise through could take it to the next resistance level of 1.4114.
With a series of eurozone economic releases today, including consumer confidence and money supply, trading in the pair is expected to be influenced by the resulting cues from these releases.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
