Euro has been climbing against the greenback and the Aussie on concerns about growth prospects in the world’s two largest economies, the United States and China. Sentiment had been dented by data showing new orders for U.S. durable goods increased only modestly in February, below analysts’ expectations, while a gauge of future business investment disappointed investors, raising the prospect that economic growth in the first quarter could be lackluster.

There is no doubt that the EUR/USD has been in a fairly steady climb for almost two weeks now. Even the dip after the IFO figure did not change the uptrend. Meanwhile, government auctions have gone smoothly and largely worry free in Europe, which was sparking demand for the Europe’s common currency. The euro climbed to a one month high against the U.S. dollar before a European finance ministers’ summit this week where they are expected to agree to bolster the region’s debt crisis firewall. Italian Prime Minister Mario Monti said the euro area crisis is “almost over” and that his nation has helped to stop a worsening of the situation. Currency market participants think that a larger euro zone rescue fund would go a long way toward reassuring financial markets a viable firewall is in place should Portugal, Italy or Spain continue to struggle.

However, a warning came from the European Central Bank Governing Council member Jens Weidmann. Jens Weidmann said debt problem in the euro zone will take a very long time to resolve. Weidmann also urged policymakers to address the roots of the crisis, saying that raising the firewall around the euro zone higher will only buy time and end up running into financial and political constraints.

Today the Asian stock markets opened lower today. NIKKEI started the day at 10,134.78, previous close was 10,182.57. HANG SENG opened at 20,720.34, previous close was 20,885.42. As the quarter and Japanese fiscal year-end approach, investors were locking in gains, which have seen the Nikkei average rallying 19.4% since the start of January.

EUR/USD is trading at 1.3320 by the time of typing and for today resistances are located at 1.3365 and 1.3400. Support levels are 1.3270 and 1.3225.

GBP/USD is at 1.5910. Resistance levels are located at 1.5951 and 1.6000. Supports are located at 1.5854 and 1.5774.

USD/CHF is trading at 0.9047 by the time of typing and for today resistances are located at 0.9081 and 0.9120. Support levels are 0.9015 and 0.8980.

AUD/USD is trading at 1.0360. Resistances are located at 1.0400 and 1.0448. Support levels are 1.0338 and 1.0300.

The economic calendar is pretty heavy today. German unemployment data will be announced at 08:55 GMT. BoE Credit Conditions Survey and Net Lending (individuals) data will be released at 09:30 GMT. M4 Money Supply and Mortgage Approvals reports will be released at 09:30 GMT. Statistics Canada will release Raw Materials Price Index figures at 13:30 GMT. US Unemployment Claims and Final GDP data will be released at 13:30 GMT.