EURUSD Movement
For the 24 hours to 23:00 GMT, EUR declined 1.01% against the USD and closed at 1.4180.
Even with the US credit downgrade and the European Central Bank aggressive bond buying of Italian and Spanish bonds, the euro lost ground against the greenback, as investors continued to remain concerned over the credit crisis spreading to other euro-periphery.
In the Euro-zone, the Sentix investor sentiment index declined to a score of -13.5 points in August, compared to a reading of 5.3 points recorded in the previous month.
In the Asian session, at 3:00GMT, the EURUSD is trading at 1.4213, 0.23% higher from the levels yesterday at 23:00GMT.
The pair has its first short term resistance at 1.4368, followed by the next resistance at 1.4524. The first support is at 1.4092, with the subsequent support at 1.3972.
Trading trends in the pair today are expected to be determined by data release on current account and trade balance in the Euro zone.
The currency pair is trading just below its 20 Hr and its 50 Hr moving averages.
