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Forex pairs in this Article » EUR/USD (Edinburgh) - The bloc currency remained almost indifferent after the GDP figures from the German economy, with the EUR/USD hovering over 1.3460/65.

EUR/USD focus on EMU GDP, Yellen Q&A

The preliminary gauges of the German GDP showed the economic activity expanding 0.3% QoQ, in line with expectations and down from the 0.5% gain from the previous quarter. Over the last twelve months, the GDP grew 1.1%, surpassing estimates. Following the release of Janet Yellen’s prepared testimony on Wednesday, market participants will be scrutinizing today’s Q&A session before the Senate Banking Committee with the main focus likely to be on the US labour market. Stoyan Mihaylov, Analyst at noted “The intraday bias is positive, supported at 1.3415, with a crucial level at 1.3357”.

EUR/USD key levels

At the moment the pair is advancing 0.01% at 1.3463 with the next resistance at 1.3529 (high Nov.7) followed by 1.3548 (high Nov.6) and finally 1.3589 (high Nov.1). On the downside, a break below 1.3466 (daily cloud top) would open the door to 1.3456 (high Nov.13) and then 1.3390 (low Nov.13).
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