The euro is stable. The GDP data on the eurozone

The single currency remains stable against the US dollar amid mixed data on Eurozone’s GDP for the 4th quarter. According to preliminary data, GDP growth in the fourth quarter was 0.6%, which is below the revised previous value of 0.7%. On an annualized basis, the growth rate was 2.7%, which is higher than the forecast at 2.5%, but still below the previous value of 2.8%.

Technical analysis: The EUR/USD pair, during the European session, played back all the lost positions during the Asian trade and is trying to return to the previously broken up channel on H1. At the moment, one should consider the main resistance levels at the marks 1,2460, 1,2500. Support levels are considered in the marks of 1.2330, 1.2290.

Fig. EUR/USD. Current price – $ 1.2397

Alexander Sivtsov