31 Jul 2013
EUR/USD slumps after USD GDP
FXstreet.com (Córdoba) - EUR/USD extended losses and broke below the 1.3250/40 support area as the greenback benefited from above-forecast 1.7% US Q2 GDP number.
EUR/USD weighed by strong US GDP
EUR/USD, which was already testing session lows before the GDP figures, came under renewed pressure and broke below yesterday’s lows to score a fresh weekly trough of 1.3212 before slowing the decline.
At time of writing, EUR/USD is trading at the 1.3220 zone, where it records a 0.3% loss on the day, having reached a high of 1.3300 during the European session.
EUR/USD levels to watch
In terms of technical levels, immediate supports are seen at 1.3210 (daily lows) and 1.3190 ahead of 1.3165 (Jul 23 low), while on the flip side, resistances could now be found at 1.3240 (former support) and 1.3300 (psychological level).
EUR/USD weighed by strong US GDP
EUR/USD, which was already testing session lows before the GDP figures, came under renewed pressure and broke below yesterday’s lows to score a fresh weekly trough of 1.3212 before slowing the decline.
At time of writing, EUR/USD is trading at the 1.3220 zone, where it records a 0.3% loss on the day, having reached a high of 1.3300 during the European session.
EUR/USD levels to watch
In terms of technical levels, immediate supports are seen at 1.3210 (daily lows) and 1.3190 ahead of 1.3165 (Jul 23 low), while on the flip side, resistances could now be found at 1.3240 (former support) and 1.3300 (psychological level).