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EUR/USD shows signs of life near 1.2430

FXStreet (Edinburgh) - The single currency remains in a very tight range in the first half of the week, with EUR/USD now hovering over the 1.2430 region.

EUR/USD indifferent post-German data

The pair almost ignored the GDP results from Germany, where the economy has expanded in line with consensus 0.1% inter-quarter during Q3, leaving behind the previous 0.1% contraction. Still in the euro region, Italian Retail Sales are due next followed by Spanish 3m and 9m auctions of Letras. Across the pond, the US GDP Annualized during the third quarter (3.3% exp.) will be the main highlight ahead of the key Consumer Confidence during September.

EUR/USD key levels

At the moment the pair is losing 0.11% at 1.2428 with the next support at 1.2358 (2014 low Nov.7) followed by 1.2342 (low Aug.21 2012) and then 1.2300 (psychological handle). On the upside, a break above 1.2477 (10-d MA) would aim for 1.2511 (21-d MA) and then 1.2569 (high Nov.21).

GBP/USD bear bias for 1.5627 today – MarketChartist

Steve Miley of MarketChartist notes GBP/USD bear bias for 1.5627 today, down to 1.5340 through month-end.
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