A look at the 30 January EURUSD Technical Forecast shows that the pair remains underneath its recent highs as the US Dollar finds its footing again. Read on to get More details.
30 January, GKFX – EUR/USD is trading lower in Asia, testing $1.2369 as of writing, after trading up pre-Tokyo to touch $1.2388.
- EUR/USD retreats, still trading near 3-year highs.
- Eurozone GDP, German CPI to set tone during London session.
Preliminary 4th quarter GDP figures for the Eurozone are due at 10 am GMT, with analysts forecasting results similar to the previous reporting, with 0.6% growth over the previous quarter and a 2.6% increase over the same period last year. After EU GDP, preliminary CPI for Germany is scheduled at 1 pm, with consensus forecast calling for a 1.6% increase over the previous annual period.
EUR/USD remains underneath its recent highs as the US Dollar finds its footing again following a continued slump, spurred on recently by bearish remarks from Treasury Secretary Steven Mnuchin. Despite the Euro giving up ground to the Greenback this week, EUR/USD is still on track following a year of gains against its quote currency.
30 January EURUSD Technical Forecast
Price is currently trading around the pivot point for the day at $1.2375, with S1/R1 at $1.2314 and $1.2412, respectively; continued bearish developments in EUR/USD will see price challenging support at $1.2295, and the nearest major resistance sits at the $1.2500 major psychological handle.
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