EURUSD Movement
For the 24 hours to 23:00 GMT, EUR rose 1.19% against the USD on Friday and closed at 1.4180.
On a seasonally adjusted basis, the trade deficit in the Euro-zone widened to €3.3 billion in January from trade deficit of €1.1 billion in December. The current account deficit, narrowed to €0.7 billion in January, following a revised €12.5 billion deficit in the previous month. Additionally, in Germany, producer price index rose by 0.7% (M-o-M) in February, following a 1.2% rise in January.
In the Asian session, at 4:00GMT, the EURUSD is trading at 1.4169, 0.08% lower from the levels yesterday at 23:00GMT.
The pair has its first short term resistance at 1.4224, followed by the next resistance at 1.4280. The first support is at 1.4075, with the subsequent support at 1.3982.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
