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15 Jan 2015
EUR/USD retreats from day’s low after robust German GDP data
FXStreet (Mumbai) - The single currency recovered slightly from fresh daily lows against the US dollar after annual growth figures for 2014 from Germany met estimates.
Currently, the EUR/USD trades at 1.1764, down -0.20% on the day, retracing slightly from fresh day’s low of 1.1750 levels hit before the day release. EUR/USD made a slight recovery after Europe’s biggest economy; Germany expanded more than thrice the growth seen a year ago. German gross domestic product (GDP) expanded 1.5% over 2014 annually, opposed to 0.4% growth seen a year ago, coming in line with markets expectations of a 1.5% upturn.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1805 (5-DMA) levels, above which gains could be extended to 1.1832 (10-DMA) levels. On the flip side, support is seen at 1.1726 (Jan 14 Low) levels, below which it could extend losses to 1.1700 levels.
Currently, the EUR/USD trades at 1.1764, down -0.20% on the day, retracing slightly from fresh day’s low of 1.1750 levels hit before the day release. EUR/USD made a slight recovery after Europe’s biggest economy; Germany expanded more than thrice the growth seen a year ago. German gross domestic product (GDP) expanded 1.5% over 2014 annually, opposed to 0.4% growth seen a year ago, coming in line with markets expectations of a 1.5% upturn.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1805 (5-DMA) levels, above which gains could be extended to 1.1832 (10-DMA) levels. On the flip side, support is seen at 1.1726 (Jan 14 Low) levels, below which it could extend losses to 1.1700 levels.