EUR/USD within range near 1.2390 on US GDP

• The pair keeps the familiar range around 1.2380/1.2400 post-US GDP.
• USD remains bid although facing resistance near 89.50.
• US GDP came in above estimates at 2.9% in the fourth quarter.

EUR/USD keeps the daily range unchanged so far today, currently navigating the 1.2400/1.2380 region in the wake of the release of US Q4 GDP figures.

EUR/USD sidelined so far

The pair remained apathetic after the second revision of US GDP showed the economy is now seeing expanding at an annualized 2.9% during the last three months of the last year.

Additionally, US trade deficit widened more than initially forecasted to $75.35 billion during February, a tad higher than January’s print.

In the meantime, risk appetite trends and month-end flows continue to drive the sentiment in the global markets, with spot down for the second session in a row after clinching fresh tops near 1.2480 on Tuesday.

EUR/USD levels to watch

At the moment, the pair is retreating 0.06 at 1.2393 facing immediate contention at 1.2377 (low Mar.28) seconded by 1.2342 (10-day sma) and finally 1.2241 (low Mar.21). On the flip side, a breakout of 1.2477 (high Mar.27) would target 1.2537 (high Jan.25) en route to 1.2557 (2018 high Feb.16).