24 May 2013
EUR/USD around 1.2920 ahead of German GDP
FXstreet.com (Barcelona) - The shared currency is posting marginal losses vs. the greenback on Friday, ahead of the German GDP figures for the first quarter.
Prior estimates expect the German economy to have expanded 0.1% inter-quarter and contracted 1.4% on a yearly basis. Further data will show results of the Gfk Consumer Confidence Survey, expected to stay put at 6.2 for the month of June.
As of writing, the pair is down 0.08% at 1.2921 and a violation of 1.2809 (low May 20) would open the door to 1.2796 (low May 17) and then 1.2754 (weekly cloud base).
On the flip side, resistance levels are located at 1.3011 (MA21d) followed by 1.3030 (high May 14) and finally 1.3051 (high May 10).
Prior estimates expect the German economy to have expanded 0.1% inter-quarter and contracted 1.4% on a yearly basis. Further data will show results of the Gfk Consumer Confidence Survey, expected to stay put at 6.2 for the month of June.
As of writing, the pair is down 0.08% at 1.2921 and a violation of 1.2809 (low May 20) would open the door to 1.2796 (low May 17) and then 1.2754 (weekly cloud base).
On the flip side, resistance levels are located at 1.3011 (MA21d) followed by 1.3030 (high May 14) and finally 1.3051 (high May 10).