EUR/USD stays down after US GDP

By FXstreet.com | August 28, 2014 AAA

FXStreet (Córdoba) - The EUR/USD remained little changed near daily lows following the release of better than expected US gross domestic product figures and jobless claims.



The preliminary US annualized GDP came in at +4.2% versus +3.9% of consensus, above the 4.0% anticipated reading and following a decline of 2.1% the previous quarter. Separated data showed initial jobless claims edged a tad lower to 298K vs 300K expected.



However, the EUR/USD barely reacted on better-than-expected readings as figures didn't fall much away from consensus. At time of writing, the pair is trading at the 1.3175, recording a 0.13% loss on the day and having printed a low of 1.3169.



The EUR/USD was already under pressure, having surrendered intraday gains and pulled back from the 1.3220 area as risk aversion intensified amid reports of Russia invading Ukraine.



EUR/USD technical levels

As for technical levels, the EUR/USD could find next supports at 1.3152 (2014 low Aug 27), 1.3104 (Sep 6 2013 low) and 1.3100 (psychological level). On the other hand, resistances are seen at 1.3238 (Aug 22 closing price) and the 1.3295/1.3300 area (Aug 22 high/psychological level).



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