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EUR/USD inches down after US GDP

FXStreet (Córdoba) - EUR/USD inched lower and hit a fresh daily low as the greenback strengthened after the US Q2 gross domestic product was upwardly revised.

The US economy grew at a 4.6% annual pace in the second quarter, matching consensus, up from the 4.2% previously estimated. This reading follows a 2.1% contraction in the previous quarter and is the best since mid 2009.

EUR/USD gave up a few pips and hit a daily low of 1.2714 after the release. At time of writing, the pair is trading at 1.2715, recording a 0.27% loss on the day and headed for a fourth week of losses.

EUR/USD levels to watch

In terms of technical levels, EUR/USD could find next supports at 1.2697 (Sept 25 low), 1.2690 (Nov 16 2012 low) and 1.2660 (Nov 13 2012 low). On the flip side, resistances are seen at 1.2760 (intraday high), 1.2800 (psychological level) and 1.2845 (10-day SMA).

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