EUR/USD: daily update
On Wednesday EUR/USD jumped to session highs around $1.3280 as French and German Q2 GDP figures surpasses the expectations (0.5% and 0.7% q/q growth respectively). The next widely awaited release on the agenda is the euro zone’s Q2 GDP at 9:00 GMT. Block’s economy is forecasted to expand by 0.2% q/q (Q1: -0.2%). It could mean that the region had finally ended a six-quarter recession. However, on a yearly basis the region is expected to contract by 0.8%.
The pair remains in a short-term bearish trend. Resistance lies at $1.3280, $1.3300, $1.3320 and $1.3400/15. Key support for the pair is now seen at $1.3230, $1.3200 and $1.3180.
Chart. H4 EUR/USD