FXstreet.com (Barcelona) - Better-than-expected GDP figures in the US are bolstering the upside in the shared currency. In fact, the US economic activity grew 2.0% in the third quarter, above previous estimates and prior reading, spurring the demand for risk-associated assets on Thursday.
After bottoming in the vicinity of 1.2880 and hammered by poor measures of confidence in core EU members and a new record high of the Spanish jobless rate – hitting 25%, the cross has managed to reconquest the 1.2900 mark.
As of writing, EUR/USD is down 0.18% at 1.2911 with the next support at 1.2835 (MA200d) followed by 1.2827 (low Oct.11) then 1.2817 (Lowe Bollinger) and 1.2804 (low Oct.1)
On the flip side, a break above 1.3015 (MA10d) would bring 1.3084 (high Oct.22) then 1.3125 (Upper Bollinger) and 1.3135 (down trend line from 2011 highs).
After bottoming in the vicinity of 1.2880 and hammered by poor measures of confidence in core EU members and a new record high of the Spanish jobless rate – hitting 25%, the cross has managed to reconquest the 1.2900 mark.
As of writing, EUR/USD is down 0.18% at 1.2911 with the next support at 1.2835 (MA200d) followed by 1.2827 (low Oct.11) then 1.2817 (Lowe Bollinger) and 1.2804 (low Oct.1)
On the flip side, a break above 1.3015 (MA10d) would bring 1.3084 (high Oct.22) then 1.3125 (Upper Bollinger) and 1.3135 (down trend line from 2011 highs).
