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EUR/USD ticks lower post-US GDP

FXStreet (Edinburgh) - The shared currency is losing further ground vs. the dollar on Friday, with EUR/USD now receding to the 1.1140 area.

EUR/USD still in red on US data

The pair keeps the offered tone after the US GDP figures have shown the economy has expanded at an annual pace of 3.9% during the second quarter, surpassing initial estimates at 3.7%.

Further data showed Core PCE rising 1.9% on a yearly basis, also coming in above expectations. Next of relevance will be Markit’s Services PMI, the Reuters/Michigan index and speeches by Bullard and George.

EUR/USD levels to watch

As of writing the pair is retreating 0.64% at 1.1156 with the next support at 1.1105 (low Sep.23) ahead of 1.1089 (low Sep.4) and then 1.1017 (low Aug.19). On the upside, a breakout of 1.1296 (high Sep.24) would aim for 1.1330 (high Sep.21) and then 1.1373 (high Sep.14).

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