EUR/USD puts 1.19 to the test on US GDP

EUR/USD has now met extra selling pressure following the publication of US GDP figures for Q2, challenging the critical support at 1.1900 the figure.

EUR/USD offered on US upbeat data

The sell off around EUR stays unabated so far today, now in response to auspicious results from another revision of US GDP figures for the second quarter. In fact, the US economy is now seen expanding at an annualized 3.0% during the April-June period, bettering expectations for a 2.7% growth.

The data add to the also upbeat results from the ADP report, which showed the US private sector created more jobs than initially estimated during August, while July’s figures were also revised higher, adding more shine to the release.

Spot has briefly pierced the 1.1900 support in the wake of the GDP data, where seems to have found quite decent contention for the time being.

EUR/USD levels to watch

At the moment, the pair is losing 0.54% at 1.1097 facing the immediate support at 1.1894 (low Aug.30) followed by 1.1851 (10-day sma) and then 1.1818 (21-day sma). On the flip side, a break above 1.2069 (2017 high Aug.29) would open the door to 1.2167 (50% Fibo of the 2014-2017 drop) and finally 1.2186 (high Dec 25 2014).