EUR/USD finds bids once again near 1.1250, Eurozone GDP eyed

The EUR/USD pair is seen making a minor recovering attempt, having tested the three-month lows of 1.1249 reached a day before, as markets now await the second reading of the Eurozone Q4 GDP for further trading momentum.

The overnight recovery in the spot faced rejection on a couple of occasions just shy of the 1.13 handle and from there the sellers took back charge, sending the rates back to the midpoint of the 1.12 handle amid a sharp rebound staged by the US dollar across its main competitors. The USD index reversed sharply from 97.00 and hit fresh 2-month tops at 97.28, up +0.15% on the day. At the press time, EUR/USD trades almost unchanged at 1.1263 levels.

Despite the renewed uptick, the common currency remains exposed to downside risks amid rising Eurozone growth concerns, especially after the German Q4 GDP numbers arrived at 0.0% q/q versus 0.1% expected. Meanwhile, the sell-off in the 10-year German yields is likely to keep the recovery attempts shallow heading into the Eurozone flash GDP release at 1000 GMT.

EUR/USD levels to watch

Overview:
    Today Last Price: 1.1264
    Today Daily change: 3 pips
    Today Daily change %: -0.03%
    Today Daily Open: 1.1266
Trends:
    Daily SMA20: 1.1379
    Daily SMA50: 1.1397
    Daily SMA100: 1.1412
    Daily SMA200: 1.1535
Levels:
    Previous Daily High: 1.1344
    Previous Daily Low: 1.1264
    Previous Weekly High: 1.1462
    Previous Weekly Low: 1.132
    Previous Monthly High: 1.1586
    Previous Monthly Low: 1.1289
    Daily Fibonacci 38.2%: 1.1294
    Daily Fibonacci 61.8%: 1.1313
    Daily Pivot Point S1: 1.1239
    Daily Pivot Point S2: 1.1212
    Daily Pivot Point S3: 1.116
    Daily Pivot Point R1: 1.1319
    Daily Pivot Point R2: 1.1371
    Daily Pivot Point R3: 1.1398

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Feed news

EUR/USD nears daily lows as risk turns off

Global economic slowdown, Brexit stalemate, and dovish central banks are taking their toll on the financial world, with equities giving up, and the dollar taking advantage of it.

EUR/USD News

GBP/USD slips from the highs amid concerns about Brexit, global economy

GBP/USD trades in the mid 1.3000s, off the highs.,The clock is ticking towards Brexit and worries about the global economy also weigh. US data came out below expectations. 

GBP/USD News