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5 Jun 2013
Next: EMU’s Q1 GDP - Impact on EUR/USD
FXstreet.com (Barcelona) - Next on tap in the euro area will be EMU’s GDP figures for the first quarter. Consensus expects the bloc to remain in recessive territory and the economic activity to have contracted at an annual rate of 1.0% and 0.2% on a monthly basis.
The euro is trading almost unchanged around 1.3070/80 despite de softer than expected services PMI readings in the euro zone. The key levels to watch will be 1.3108 (Monday’s highs) and 1.3138 (76.4% of 1.3243-1.2796). On the downside, 1.3043 (Tuesday’s low) and the 200-day moving average at 1.3040.
“In the 4 hours chart indicators maintain the upward momentum, with dips towards 1.3040 still seen as buying opportunities. A break of the weekly high around 1.3110 should signal further gains, with 1.3200 then at sight”, suggested Valeria Bednarik, Currency Analyst at FXstreet.com
The euro is trading almost unchanged around 1.3070/80 despite de softer than expected services PMI readings in the euro zone. The key levels to watch will be 1.3108 (Monday’s highs) and 1.3138 (76.4% of 1.3243-1.2796). On the downside, 1.3043 (Tuesday’s low) and the 200-day moving average at 1.3040.
“In the 4 hours chart indicators maintain the upward momentum, with dips towards 1.3040 still seen as buying opportunities. A break of the weekly high around 1.3110 should signal further gains, with 1.3200 then at sight”, suggested Valeria Bednarik, Currency Analyst at FXstreet.com