EUR/USD parked near 1.1290 post-US GDP, looks to Powell
- The pair keeps the familiar range near 1.1290.
- DXY stays consolidative around 97.40.
- US flash Q3 GDP came in at 3.5% vs. 3.6% expected.
No news around EUR/USD, which keeps the trade around the 1.1280 area following the publication of another estimate of US Q3 GDP figures.
EUR/USD unchanged on data, waits for Powell
Spot paid little-to-none attention to today’s advanced GDP figures, showing the US economy is expected to expand at an annualized 3.5% during the July-September period.
Later in the NA session, US October’s New Home Sales are due followed by the EIA’s report on crude oil supplies and the speech by Fed’s J.Powell.
In the meantime, the pair keeps the cautious/bearish stance after breaking below the critical support at 1.1300 the figure on Tuesday, always with Brexit and developments from the Italian political scenario as main drivers of the price action.
EUR/USD levels to watch
At the moment, the pair is losing 0.01% at 1.1287 and a break below 1.1267 (low Nov.28) would target 1.1214 (2018 low Nov.12) en route to 1.1188 (61.8% Fibo of the 2017-2018 rally). On the flip side, the next barrier is located at 1.1357 (21-day SMA) seconded by 1.1434 (high Nov.22) and finally 1.1473 (high Nov.20).