EURUSD Movement
For the 24 hours to 23:00 GMT, EUR rose 0.73% against the USD and closed at 1.3724, after the Federal Reserve Chairman, Ben Bernanke, stated that persistent weakness in the jobs market requires the Fed to maintain its record low interest rates and $ 600 billion quantitative easing program.
The unadjusted trade surplus in Germany declined to €11.9 billion in December, compared to a €13.1 billion surplus recorded in the previous month. Meanwhile, the current account surplus climbed to €17.6 billion in December, following a €12.9 billion surplus recorded in November.
In the Asian session, at 4:00GMT, the EURUSD is trading at 1.3704, 0.15% lower from the levels yesterday at 23:00GMT.
The pair has its first short term resistance at 1.3764, followed by the next resistance at 1.3825. The first support is at 1.3624, with the subsequent support at 1.3545.
Investors stay focused on ECB monthly report in the day ahead.
The pair is trading slightly above its 20 Hr moving averages and well above 50 Hr moving average.
