On April 29, the euro moved up against the dollar. The EUR/USD moved up by 0.11% to 1.3865, very much nearing to the level of 1.3878 hit on April 28. Speculations are on for a support of 1.3820 and a resistance level of 1.3895.
The euro is supported by speculation on the positive consumer price data in the preliminary euro zone inflation report that will be released on April 30. The annual rate of inflation in the euro zone slackened by 0.5% during March, which is the lowest since November 2009. The ECB aims at a below than 2% inflation rate while expecting a near closer level.
Against the yen, the euro moved up by 0.19% to 142.20. The dollar stayed flat against the yen, making a little move up to 102.54 from 102.48 on April 28. With the Japanese market remaining closed on April 29, the trade volumes continued to stay thin.
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