EUR/USD under pressure after US GDP, falls through 1.1200
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EUR/USD came under selling pressure at the beginning of the New York session as the greenback received a boost after data showed US economy grew at a modestly faster pace in the second quarter than previously estimated.
US real GDP growth was upwardly revised to 1.4-5 in the second quarter, up from an estimate of 1.1% and above the 0.8% rate in the first quarter.
EUR/USD fell below the 1.12 level from around 1.1225 before the data. The pair was last trading at 1.1199, recording a 0.15% loss on the day, having struck a low of 1.1196.
EUR/USD levels to watch
In terms of technical levels, immediate supports are seen at 1.1183/87 (100-day SMA/50-day SMA), 1.1158 (200-day SMA) and 1.1122 (Aug 31 & Sep 21 low). On the flip side, resistances could be faced at 1.1235 (Sep 28 high), 1.1258 (Sep 27 high), 1.1283 (Sep 15 high), 1.1326 (Sep 8 high) and 1.1365 (Aug 18 high).
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