EUR/USD finds some support around 1.1340 post-US GDP

  • The pair is now attempting a rebound after dropping to 1.1340/35 band.
  • The greenback eases from daily highs beyond 96.80.
  • US flash Q3 GDP came in above estimates at 3.5%.

After bottoming out in the 1.1340.35 band, EUR/USD is now looking to rebound to the 1.1350 region following an auspicious result from the US GDP figures.

EUR/USD still offered post-US data

The pair remains entrenched into the negative territory around 1.1350, albeit a tad higher than today’s lows in the 1.1340/35 band and always against the backdrop of a solid sentiment around the buck.

EUR managed to gather some traction despite preliminary US GDP figures showed the economy is expected to expand at an annualized 3.5%, more than initially forecasted.

Still in the US docket, the final print of the October’s Consumer Sentiment tracked by the U-Mich index is coming up next.

EUR/USD levels to watch

At the moment, the pair is down 0.18% at 1.1353 and a break below 1.1336 (low Oct.26) would target 1.1319 (200-week SMA) en route to 1.1299 (2018 low Aug.15). On the flip side, the immediate hurdle aligns at 1.1470 (10-day SMA) seconded by 1.1505 (21-day SMA) and finally 1.1550 (high Oct.22).

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.