EURUSD Movement
For the 24 hours to 23:00 GMT, EUR rose 0.69% against the USD and closed at 1.3749.
In the EU, Industrial new orders rose by 2.1% (M-o-M) in December after 2.2% rise the previous month. Meanwhile, the Bundesbank President, Axel Weber has stated that the German economy would likely grow by around 2.5% this year. Meanwhile the US Federal Reserve Bank of Kansas City President, Thomas Hoenig has US urged regulators to break up the biggest banks.
In the Asian session, at 4:00GMT, the EURUSD is trading at 1.3776, 0.20% higher from the levels yesterday at 23:00GMT.
The pair has its first short term resistance at 1.3818, followed by the next resistance at 1.3859. The first support is at 1.3699, with the subsequent support at 1.3621.
The pair is expected to trade on the cues from the release of GDP release in Germany, economic confidence, consumer confidence, business climate indicator and industrial confidence in the EU.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
