EUR/USD around 1.1820 on EMU GDP

EUR/USD stayed apathetic after the release of GDP figures in the euro area, currently hovering over the 1.1820/15 band.

EUR/USD offered on USD-buying

Spot remains within the negative ground on Tuesday after EMU’s advanced GDP figures for the second quarter showed the economy of the euro bloc is seen expanding 0.6% inter-quarter in the April-June period and 2.1% on an annualized basis.

In the meantime, the bid sentiment around the greenback stays well and sound so far, prompting the US Dollar Index to rebound from lows near 92.60 to the current area of daily highs near 92.80.

Recall that another confusing episode at the White House saw Trump’s freshly appointed chief of staff J.Kelly sacking A.Scaramucci after 10 days of being appointed as Communications Director. The news sparked yet another sell off in the buck, dragging the US Dollar Index (DXY) to fresh lows near 92.60 in early trade.

Data wise across the pond, the ISM manufacturing will grab all the attention seconded by the manufacturing PMI and personal income/spending.

EUR/USD levels to watch

At the moment, the pair is losing 0.24% at 1.1813 facing the next support at 1.1735 (38.2% Fibo of the 2014-2017 drop) followed by 1.1691 (10-day sma) and finally 1.1611 (high Jul.26). On the other hand, a breakout of 1.1845 (2017 high Jul.31) would target 1.2040 (2012 low Jul.24) and then 1.2166 (50% Fibo of the 2014-2017 drop).