However, EUR pared some of its losses after Guardian newspaper stated that France and Germany have agreed a €2-trillion rescue find as a part of plan to resolve the debt crisis.
the Economic Sentiment Index in Europe declined to -51.2 in October, compared to a reading of -44.6 in September. Additionally, in Germany, the ZEW’s Economic Sentiment Index declined to -48.3 in October, from -43.3 in September. The Current Situation index declined to 38.4 in October, from 43.6 in September.
In the Asian session, at GMT0300, the pair is trading at 1.3781, with the EUR trading 0.33% higher from yesterday’s close.
The pair is expected to find support at 1.3683, and a fall through could take it to the next support level of 1.3586. The pair is expected to find its first resistance at 1.3848, and a rise through could take it to the next resistance level of 1.3916.
Trading trends in the pair today are expected to be determined by data release on current account and construction output in the Eurozone.
Please see the attached chart below.
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