The euro is stable. Data on the eurozone GDP

The single currency remains stable against the US dollar after the publication of data on the Eurozone’s GDP.

• According to published data, the Eurozone’s GDP in the fourth quarter kept growth at the level of 0.6%. On an annualized basis the indicator remains at the level of 2.7%.

Also, the restrained dynamics of the EUR/USD pair is associated with the expectation of publication of data on employment in the US, which is why market participants are showing some caution about the US currency.

Technical analysis: The pair EUR/USD continues to recover positions after a decline in the second half of February. The nearest levels of resistance are 1,2470, 1,2515. Support levels are 1,2355, 1,2300.

Key recommendations: On the pair EUR/USD one should consider both purchases and sales from the above-mentioned levels of support and resistance, but the possibility of a sharp change in the price of the instrument to publish data on employment in the US should be taken into account.

Fig. EUR/USD. The current price is $ 1.2428.

Alexander Sivtsov