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EUR/USD falls to test 1.2400 after US GDP

FXStreet (Córdoba) - EUR/USD dropped to fresh daily lows as the dollar strengthened on the back of better-than-expected Q3 US GDP.

US GDP growth was upwardly revised to 3.9% in the third quarter, up from the preliminary reading of 3.5% and beating expectations of 3.3%. EUR/USD was dragged lower but it has managed to hold above the 1.2400 level so far. At time of writing, the pair is trading at 1.2407, recording a % loss on the day.

EUR/USD levels to watch

In terms of technical levels, if 1.2400 gives up, next supports could be found at 1.2357 (2014 low Nov 7) and 1.2341 (Aug 21 2012 low). On the flip side, resistances are seen at 1.2475 (10-day SMA), 1.2500 (pychologicallevel) and 1.2567 (Nov 21 low).

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