29 Apr 2015
EUR/USD climbs to 1.1040 on USD GDP
FXStreet (Edinburgh) - The shared currency keeps pushing higher on Wednesday, now lifting EUR/USD to test fresh multi-week tops near 1.1040.
EUR/USD stronger on US GDP
The pair is extending its weekly upside after the US economy expanded at an annual pace of 0.2% during the first quarter, missing forecasts for a 1.0% advance. Further data showed that inflation figures gauged by the PCE contracted 2.0% inter-quarter in Q1 while the Core print rose 0.9% QoQ.
With the US GDP results now in the rear-view mirror, market participants will turn their focus on the FOMC meeting, due in the European evening.
EUR/USD key levels
At the moment the pair is up 0.50% at 1.1036 with the next resistance at 1.1062 (high Mar.18) and finally 1.1100 (psychological level). On the downside, a breach of 1.0959 (low Apr.29) would open the door to 1.0860 (low Apr.28) and then 1.0819 (low Apr.27).
EUR/USD stronger on US GDP
The pair is extending its weekly upside after the US economy expanded at an annual pace of 0.2% during the first quarter, missing forecasts for a 1.0% advance. Further data showed that inflation figures gauged by the PCE contracted 2.0% inter-quarter in Q1 while the Core print rose 0.9% QoQ.
With the US GDP results now in the rear-view mirror, market participants will turn their focus on the FOMC meeting, due in the European evening.
EUR/USD key levels
At the moment the pair is up 0.50% at 1.1036 with the next resistance at 1.1062 (high Mar.18) and finally 1.1100 (psychological level). On the downside, a breach of 1.0959 (low Apr.29) would open the door to 1.0860 (low Apr.28) and then 1.0819 (low Apr.27).