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Forex: EUR/USD around 1.2930/35 ahead of German GDP

FXstreet.com (Barcelona) - The single currency is advancing against the greenback on Wednesday, ahead of the preliminary German GDP figures for the first quarter, expected to post an expansion of 0.3% inter-quarter.

Previously, the French economic activity contracted 0.2% QoQ, missing the median at -0.1%, and 0.4% over the last twelve months.

As of writing the cross is up 0.12% at 1.2936 with the next resistance at 1.3051 (high May 10) would open the door to 1.3065 (MA21d) and finally 1.3148 (MA100d).
On the flip side, a breach of 1.2936 (61.8% of 1.2747-1.3243) would expose 1.2935 (low May 10) and then 1.2850 (76.4% of Apr. range).

France Gross Domestic Product (YoY) decreases to -0.4% in 1Q from 0%

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Germany: Gross Domestic Product s.a (QoQ) (1Q): 0.1% vs -0.6% in 4Q. (YoY) -1.4% vs. 0.1%.

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