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15 May 2014
EUR/USD steady despite EZ GDP miss
FXStreet (Córdoba) - The EUR/USD remained little changed near daily lows after the latest string of Eurozone data showed Q1 GDP came in below expectations, while April CPI met forecast.
Eurozone gross domestic product grew 0.2% in the first quarter 2014 and 0.9% YoY, missing expectations of 0.4% and 1.1% respectively. Meanwhile, consumer inflation rose 0.2% in April and 0.7% YoY, matching market’s consensus.
The EUR/USD was barely affected by data, clinging to the 1.3670 zone, where it records a 0.32% loss on the day, after printing a 6-week low of 1.3659 at the beginning of the European session.
EUR/USD technical levels
As for technical levels, the pair could face next supports at 1.3642 (Feb 27 low), 1.3621 (200-day SMA) and 1.3600 (psychological level). On the other hand, resistances could be found at 1.3739 (100-day SMA), 1.3774 (May 12 high) and 1.3800 (psychological level).
Eurozone gross domestic product grew 0.2% in the first quarter 2014 and 0.9% YoY, missing expectations of 0.4% and 1.1% respectively. Meanwhile, consumer inflation rose 0.2% in April and 0.7% YoY, matching market’s consensus.
The EUR/USD was barely affected by data, clinging to the 1.3670 zone, where it records a 0.32% loss on the day, after printing a 6-week low of 1.3659 at the beginning of the European session.
EUR/USD technical levels
As for technical levels, the pair could face next supports at 1.3642 (Feb 27 low), 1.3621 (200-day SMA) and 1.3600 (psychological level). On the other hand, resistances could be found at 1.3739 (100-day SMA), 1.3774 (May 12 high) and 1.3800 (psychological level).