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14 Nov 2013
EUR/USD hits fresh lows after EMU GDP
FXstreet.com (Córdoba) - The EUR/USD extended its pullback to fresh daily lows after Eurozone GDP came in slightly weaker than expected, adding to negative outlook already outlined by French data and German GDP.
EUR/USD pulls back from 1.3500
Eurozone Q3 GDP grew 0.1% versus 0.2% expected while YoY GDP declined 0.4% versus -0.3% expected. Earlier, German GDP came in line with expectations but the pace of growth slowed in Q3. The EUR/USD has continued to move away from around 1.3500 during the day, weighed by data and slid to a low of 1.3435 in recent dealings having failed to break above 1.3500, peaking at 1.3497. At time of writing, EUR/USD is trading at the 1.3445 area, 0.3% below its opening price.
EUR/USD levels to watch
As for technical levels, if EUR/USD falls below 1.3435, next supports could be found at 1.3400 (psychological level) and 1.3388 (Nov 13 low). On the upside, resistances are seen at 1.3497/1.3500 (daily high/psychological level), 1.3528 (Nov 7 high) and 1.3548 (Nov 6 high).
EUR/USD pulls back from 1.3500
Eurozone Q3 GDP grew 0.1% versus 0.2% expected while YoY GDP declined 0.4% versus -0.3% expected. Earlier, German GDP came in line with expectations but the pace of growth slowed in Q3. The EUR/USD has continued to move away from around 1.3500 during the day, weighed by data and slid to a low of 1.3435 in recent dealings having failed to break above 1.3500, peaking at 1.3497. At time of writing, EUR/USD is trading at the 1.3445 area, 0.3% below its opening price.
EUR/USD levels to watch
As for technical levels, if EUR/USD falls below 1.3435, next supports could be found at 1.3400 (psychological level) and 1.3388 (Nov 13 low). On the upside, resistances are seen at 1.3497/1.3500 (daily high/psychological level), 1.3528 (Nov 7 high) and 1.3548 (Nov 6 high).