EUR/USD is trying to settle above the 1.0500 level as Euro Area GDP Growth Rate exceeds expectations.

EUR/USD Tests The 1.0500 Level

EUR/USD gains ground as traders focus on the better-than-expected Euro Area GDP Growth Rate report. The report showed that GDP Growth Rate was +0.1% in the fourth quarter, compared to analyst forecast of 0%.

In case EUR/USD manages to settle above the resistance at 1.0515 – 1.0530, it will head towards the next resistance level, which is located in the 1.0630 – 1.0645 range.