28 Apr 2016
EUR/USD returns to the 1.1350 area
EUR/USD has managed to regain some ground during the American afternoon after completing a round trip to 1.1367 and back to 1.1310 at the beginning of the session.
Despite first-tier data was published on both sides of the Atlantic, EUR/USD remained uninspired within a 40-pip range unable to set short-term direction. At time of writing, the pair is trading at 1.1350, just where it started the session and only 0.26% up on the day.
On the data front, the German harmonised CPI fell into negative territory, while in the US GDP growth slowed to 0.5%, the slowest pace in two years.
EUR/USD levels to watch
In terms of technical levels, immediate resistances are seen at 1.1367 (Apr 28 high), 1.1394 (Apr 21 high) and 1.1464 (Apr 14 high). On the flip side, supports could be found at 1.1274 (Apr 27 low), 1.1214 (Apr 25 low), 1.1197 (50-day SMA) and 1.1144 (Mar 24 low).
Despite first-tier data was published on both sides of the Atlantic, EUR/USD remained uninspired within a 40-pip range unable to set short-term direction. At time of writing, the pair is trading at 1.1350, just where it started the session and only 0.26% up on the day.
On the data front, the German harmonised CPI fell into negative territory, while in the US GDP growth slowed to 0.5%, the slowest pace in two years.
EUR/USD levels to watch
In terms of technical levels, immediate resistances are seen at 1.1367 (Apr 28 high), 1.1394 (Apr 21 high) and 1.1464 (Apr 14 high). On the flip side, supports could be found at 1.1274 (Apr 27 low), 1.1214 (Apr 25 low), 1.1197 (50-day SMA) and 1.1144 (Mar 24 low).