EURUSD Movement
For the 24 hours to 23:00 GMT, EUR rose 1.22% against the USD and closed at 1.4509, as rise in stock prices and corporate earnings motivated investors to shift out of the safe-haven dollar.
In Germany, the producer price index for industrial products, on an annual basis slowed to 6.2% in March, compared to a rate of 6.4% recorded in February.
In the Asian session, at 3:00GMT, the EURUSD is trading at 1.4567, 0.40% higher from the levels yesterday at 23:00GMT.
The pair has its first short term resistance at 1.4640, followed by the next resistance at 1.4713. The first support is at 1.4436, with the subsequent support at 1.4305.
Trading trends in the pair today are expected to be determined by data release on business climate in the Euro zone.
The currency pair is trading just above its 20 Hr moving average and well above its 50 Hr moving average.
