EURUSD Movement
For the 24 hours to 23:00 GMT, EUR rose 0.57% against the USD on Friday and closed at 1.3685.
In Germany, producer price index rose 1.2% (M-o-M) in January versus a 0.7% rise in December. The annual producer price inflation in Germany climbed to 5.7% in January, following a 5.3% rate recorded in December.
In the Asian session, at 4:00GMT, the EURUSD is trading at 1.3674, 0.08% lower from the levels yesterday at 23:00GMT.
The pair has its first short term resistance at 1.3745, followed by the next resistance at 1.3816. The first support is at 1.3574, with the subsequent support at 1.3474.
Trading trends in the pair are expected to be determined by the release of services PMI in the EU.
The currency pair is showing convergence with its 50 Hr moving average and is trading just below its 20 Hr moving average.
