12 Feb 2016
EUR/USD unperturbed by EZ GDP data, stays below 1.13
An upbeat Eurozone Q4 GDP and a weaker-than-expected industrial production figures failed to have any impact on the EUR, leaving the EUR/USD pair unaffected around 1.1280 levels.
Awaits US data
The spot fell to 1.1265 on the back of a rally in the European stocks, before recovering to near 1.13 levels ahead of the Eurozone data. The quarter-on-quarter GDP rose to 0.3%, while the industrial production contracted 1% m/m. However, both data sets were ignored by the pair.
The focus now is on the US advance retail sales data, which is expected to show household spending, rebounded in January following a drop in December.
EUR/USD Technical Levels
The immediate resistance is seen at 1.1293 (hourly 50-MA), above which the spot could target 1.1376 (Feb 11 high). On the other hand, of the immediate support of 1.1256 (hourly 100-MA) could see the spot drop to 1.12 levels.
Awaits US data
The spot fell to 1.1265 on the back of a rally in the European stocks, before recovering to near 1.13 levels ahead of the Eurozone data. The quarter-on-quarter GDP rose to 0.3%, while the industrial production contracted 1% m/m. However, both data sets were ignored by the pair.
The focus now is on the US advance retail sales data, which is expected to show household spending, rebounded in January following a drop in December.
EUR/USD Technical Levels
The immediate resistance is seen at 1.1293 (hourly 50-MA), above which the spot could target 1.1376 (Feb 11 high). On the other hand, of the immediate support of 1.1256 (hourly 100-MA) could see the spot drop to 1.12 levels.