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Forex pairs in this Article » EUR/USD (London) - EUR/USD is oscillating around 1.3065 ahead of key US data in the afternoon.

EUR/USD data

Rabobank Research teams said that The US offers the third estimate of 1Q GDP growth today and it is expected to confirm the second estimate released a month ago, and show the economy expanded 2.4% QoQ (on an annualized basis). They suggest key theme investors will look for is further market resilience after recent nervousness, and this will be a signal the market has re-priced for the changed outlook for Fed policy.

EUR/USD ranges

EUR/USD is still trading above the top of the daily cloud at 1.3010 but it has been grinding lower and clearing the congregation of moving averages. From the recent price action, and without there being much in the way of momentum, odds are the sell off and range between 1.30/1.32 prevails near term. Supports 1.3050 1.3005/10 1.2970 1.2940. Resistance comes as 1.3085, 1.3110 1.3155 and 1.3200.
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