FXStreet – The common currency is quoted at the end of the week in a narrow Range, while the EUR/USD in the area of 1,1200 traded, which, compared to yesterday’s closing price was virtually unchanged.
EUR/USD focus on US GDP
The Pair is struggling to finish the second week in a row in profit, while it seems to be coming to a recovery of the Greenback, although the FOMC meeting minutes had recently been disappointing.
Despite the downward revision of the trade of the pair is held around the important 1,1200, while the profits remain in the area of the 1,1270 limited. The GBP bulls seem to be on a more powerful catalyst, or a pronounced USD weakness to wait.
From the Eurozone today, there is no data, so that the focus is on US publications. Here are the 2. Revision of the Q1 GDP, orders for durable goods and the final reading of the Reuters/Michigan Index for the month of may.
EUR/USD significant levels
Currently, the daily loss -0,09% at 1.1200 and the next supports is at 1,1167 (Deep 24. May), 1,1073 (76,4 % Fibo of 1,1300-1,0339) and 1,1036 (20-day SMA). On the other hand, Resistances can be found at 1,1250 (High-25. May), 1,1267 (2017 High may 23) and 1.1300 (High-9. Nov. 2016).
** FXStreet News Editorial, FXStreet**