Data on GDP and unemployment in the euro area

The single currency continues to trade near the low of today’s trading, after the publication of weak preliminary data on the euro area’s GDP.

• According to published data, in the first quarter, GDP growth slowed to 0.4%, against the previous value of 0.7%. On an annualized basis, the growth slowed to 2.5%, against the previous level of 2.8%.
• The unemployment rate remains at around 8.5%.

Technical analysis: The pair EUR/USD keeps its decline in the short term. During yesterday’s trading, the price of the instrument was fixed below the support line of the Low channel on H4, which is a signal for the continuation of the downward short-term trend. The nearest levels of support are 1,1950, 1,1900. Resistance levels are 1,2060, 1,2100.

Fig. EUR/USD. The current price is $ 1,1999.

Alexander Sivtsov