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14 Feb 2014
EUR/USD little changed after Eurozone GDP
FXStreet (Córdoba) - The EUR/USD remained little changed just below 1.3700 after the latest string of Eurozone data came in mostly in line with expectations.
In Q4, Eurozone gross domestic product grew 0.3% QoQ and 0.5% YoY according to preliminary data, versus 0.2% and 0.4% expected. Separated data showed, Eurozone trade surplus shrunk to EUR 13.9 billion in December, against EUR 15.0 billion forecast. The EUR/USD was barely affected by data and continues to trade around 1.3690, still a few pips above its opening price.
The EUR/USD printed a fresh 3-week high at 1.3713 during the European session, but failed to hold above the 1.3700 mark for long and pulled back to 1.3678 before finding support at the 20-hour SMA.
EUR/USD levels to watch
In terms of technical levels, the EUR/USD could find immediate resistances at 1.3713 (Feb 14 high), 1.3739 (Jan 24 high) and 1.3757 (2014 high Jan 2). On the other hand, supports are seen at 1.3673 (Feb 14 low), 1.3652 (50-day SMA) and 1.3609 (100-day SMA) ahead of 1.3585 (Feb 13 low).
In Q4, Eurozone gross domestic product grew 0.3% QoQ and 0.5% YoY according to preliminary data, versus 0.2% and 0.4% expected. Separated data showed, Eurozone trade surplus shrunk to EUR 13.9 billion in December, against EUR 15.0 billion forecast. The EUR/USD was barely affected by data and continues to trade around 1.3690, still a few pips above its opening price.
The EUR/USD printed a fresh 3-week high at 1.3713 during the European session, but failed to hold above the 1.3700 mark for long and pulled back to 1.3678 before finding support at the 20-hour SMA.
EUR/USD levels to watch
In terms of technical levels, the EUR/USD could find immediate resistances at 1.3713 (Feb 14 high), 1.3739 (Jan 24 high) and 1.3757 (2014 high Jan 2). On the other hand, supports are seen at 1.3673 (Feb 14 low), 1.3652 (50-day SMA) and 1.3609 (100-day SMA) ahead of 1.3585 (Feb 13 low).