23 Dec 2014
EUR/USD breaks below 1.2200 after strong US GDP
FXStreet (Córdoba) - The dollar strengthened across the board and dragged EUR/USD below 1.2200 to fresh 2 ½-year lows after data showed US GDP growth at the strongest pace since Q3 2003.
US gross domestic product grew at a seasonally adjusted annual rate of 5.0% in the Q3, marking the strongest pace in 11 years. However, durable goods orders fell 0.7% in November, missing by far expectations of a 1.8% gain.
EUR/USD broke below 1.2200 and stops were triggered, sending the pair quickly to its lowest level since August 2012 at 1.2182. At time of writing, the pair is trading at 1.2190, recording a 0.32% loss on the day.
EUR/USD levels to watch
Immediate supports are now seen at 1.2167 (Aug 3 2012 low) and 1.2133 (Aug 2 2012 low). On the other hand, next resistances could be found at 1.2245 (daily high) and 1.2271 (Dec 22 high).
US gross domestic product grew at a seasonally adjusted annual rate of 5.0% in the Q3, marking the strongest pace in 11 years. However, durable goods orders fell 0.7% in November, missing by far expectations of a 1.8% gain.
EUR/USD broke below 1.2200 and stops were triggered, sending the pair quickly to its lowest level since August 2012 at 1.2182. At time of writing, the pair is trading at 1.2190, recording a 0.32% loss on the day.
EUR/USD levels to watch
Immediate supports are now seen at 1.2167 (Aug 3 2012 low) and 1.2133 (Aug 2 2012 low). On the other hand, next resistances could be found at 1.2245 (daily high) and 1.2271 (Dec 22 high).