29 Aug 2013
EUR/USD makes fresh lows after US GDP, claims
FXstreet.com (Córdoba) - The USD strengthened further and extended gains versus the EUR after data showed US economy expanded at a faster pace than previously estimated in the second quarter.
US GDP for the second quarter was upwardly revised to 2.5% from an initial estimate of 1.7% reported last month and above an expected growth rate of 2.2%. Meanwhile jobless claims fell to 331K last week, slightly above the 329K expected.
EUR/USD weighed by US data
EUR/USD resumed the slide and fell to a fresh 2-week low of 1.3232 in recent dealings. At time of writing, EUR/USD is trading at the 1.3240 zone, recording a 0.7% loss on the day.
EUR/USD levels to watch
As for technical levels, EUR/USD could find immediate supports at 1.3232 (daily low), 1.3205 (Aug 5 low) and 1.3185 (Aug 2 low). On the flip side, resistances line up at 1.3330 (20-day SMA), 1.3343 (daily high) and 1.3350 (10-day SMA).
US GDP for the second quarter was upwardly revised to 2.5% from an initial estimate of 1.7% reported last month and above an expected growth rate of 2.2%. Meanwhile jobless claims fell to 331K last week, slightly above the 329K expected.
EUR/USD weighed by US data
EUR/USD resumed the slide and fell to a fresh 2-week low of 1.3232 in recent dealings. At time of writing, EUR/USD is trading at the 1.3240 zone, recording a 0.7% loss on the day.
EUR/USD levels to watch
As for technical levels, EUR/USD could find immediate supports at 1.3232 (daily low), 1.3205 (Aug 5 low) and 1.3185 (Aug 2 low). On the flip side, resistances line up at 1.3330 (20-day SMA), 1.3343 (daily high) and 1.3350 (10-day SMA).