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26 Jun 2013
EUR/USD rebounds to 1.3050 on US GDP
Fxstreet.com (Edinburgh) - The EUR/USD is now attempting a bounce to the area of 1.3050 after the US GDP data disappointed investors.
EUR/USD downside stalled
It seems that the intraday decline of the shared currency bottomed out in the proximities of 1.3020 on Wednesday, as the pair is now picking up pace after the US data. The US economy grew 1.8% on a yearly basis during the first three months of the present year, below forecasts and previous reading at 2.4%. The inflation, gauged by the Personal Consumption Expenditures, rose 1.0%, banging on estimates.
EUR/USD levels to watch
At the moment the pair is down 0.31% at 1.3040 and a violation of 1.2956 (low Jun.3) would target 1.2944 (low May 31) en route to 1.2934 (low May 30). On the upside, resistance levels align at 1.3087 (high Jun.26) followed by 1.3151 (high Jun.25) and then 1.3161 (low Jun.20).
EUR/USD downside stalled
It seems that the intraday decline of the shared currency bottomed out in the proximities of 1.3020 on Wednesday, as the pair is now picking up pace after the US data. The US economy grew 1.8% on a yearly basis during the first three months of the present year, below forecasts and previous reading at 2.4%. The inflation, gauged by the Personal Consumption Expenditures, rose 1.0%, banging on estimates.
EUR/USD levels to watch
At the moment the pair is down 0.31% at 1.3040 and a violation of 1.2956 (low Jun.3) would target 1.2944 (low May 31) en route to 1.2934 (low May 30). On the upside, resistance levels align at 1.3087 (high Jun.26) followed by 1.3151 (high Jun.25) and then 1.3161 (low Jun.20).