14 Aug 2013
EUR/USD around 1.3270, eyes on GDP
FXstreet.com (Edinburgh) -The bloc currency is alternating gains with losses on Wednesday, with the EUR/USD gyrating around 1.3270 ahead of the key EMU data due later.
EUR/USD in cautious tone
Traders remain wary ahead of the advanced EMU GDP figures for the second quarter, with prior surveys expecting the economic activity of the bloc to have expanded 0.2% QoQ and thus leaving behind the recession. “The easing of fiscal austerity and pick up in export demand is helping euro-zone growth to rebound although given the headwinds to growth, we expect the pace of recovery to remain subdued”, assessed Lee Hardman, Currency Analyst at BTMU.
EUR/USD levels to watch
At the moment the pair is up 0.05% at 1.3272 with the next resistance at 1.3295 (MA10d) followed by 1.3317 (high Aug.13) and then 1.3345 (high Aug.12). On the downside, a breakdown of 1.3233 (low Aug.5) would aim for 1.3200 (psychological level) and finally 1.3188 (low Aug.2).
EUR/USD in cautious tone
Traders remain wary ahead of the advanced EMU GDP figures for the second quarter, with prior surveys expecting the economic activity of the bloc to have expanded 0.2% QoQ and thus leaving behind the recession. “The easing of fiscal austerity and pick up in export demand is helping euro-zone growth to rebound although given the headwinds to growth, we expect the pace of recovery to remain subdued”, assessed Lee Hardman, Currency Analyst at BTMU.
EUR/USD levels to watch
At the moment the pair is up 0.05% at 1.3272 with the next resistance at 1.3295 (MA10d) followed by 1.3317 (high Aug.13) and then 1.3345 (high Aug.12). On the downside, a breakdown of 1.3233 (low Aug.5) would aim for 1.3200 (psychological level) and finally 1.3188 (low Aug.2).