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Forex: EUR/USD challenging 1.2900 on German GDP

FXstreet.com (Barcelona) - The shared currency eased to the boundaries of the key support at 1.2900 on Wednesday, after the flash GDP figures in Germany missed expectations. The German economic activity expanded 0.1% inter-quarter vs. 0.3% expected. On a yearly basis, the GDP contracted 1.4% vs. the median at 0.2%.

Next on tap will be the French consumer prices followed by the flash Italian and EMU GDP figures.

At the moment, the cross is down 0.10% at 1.2907 with the next support at 1.2850 (76.4% of Apr. range).
On the upside, a break above 1.3051 (high May 10) would open the door to 1.3065 (MA21d) and finally 1.3148 (MA100d).

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