EUR/USD (current price: 1.1190)
The Euro rebounded against its main counterpart since getting close to the 200-day MA earlier on this week. The 1.115 support held up the most traded forex pair for now, but the cross faces strong resistance at the current levels that coincide with the prior low at 1.1225. The MACD indicator is now back in neutral territory, and that might favor a more durable bounce in the coming sessions, with the 1.1375 level providing an ideal target for the possible move.
Our assessment: Today’s U.S.GDP number might cause a spike in volatility, and investors should be ready for a strong rally, should the growth number disappoint.
