EURUSD Movement
For the 24 hours to 23:00 GMT, EUR declined 0.30% against the USD and closed at 1.3539, as investors remained cautious over European policy makers’ ability to solve debt crisis. Officials from the European Commission, the European Central Bank (ECB) and the IMF would return to Greece on Thursday to review the progress over the steps taken to solve the debt crisis.
In economic news in Germany, the Consumer Price Index (CPI), on monthly basis, rose 0.1% in September.
In the Asian session, at 3:00GMT, the EUR is trading at 1.3574, 0.26% higher against USD, from the levels yesterday at 23:00GMT.
The pair has its first short term resistance at 1.3669, followed by the next resistance at 1.3765. The first support is at 1.3499, with the subsequent support at 1.3425.
With a series of Euro zone economic releases today, including consumer confidence and economic confidence, trading in the pair is expected to be influenced by the resulting cues from these releases.
The currency pair is showing convergence with its 50 Hr moving average and is trading just below its 20 Hr moving average.
