The euro currency was seen trading weaker on the day. Eurozone’s second-quarter GDP was confirmed rising by 0.2% in the second quarter of the year. This was an unchanged print from the flash estimates. Germany’s GDP was seen contracting 0.1% in the second quarter of the year. The slowdown was attributed to the cooling export markets due to the trade dispute with the US.
EURUSD Dips to Lower Support
EURUSD was seen easing lower on the day as it broke out from its range. The euro currency fell to the lower support at 1.1140 and is seen testing this level at the time of writing. We expect this support level to hold in the short term. Failure to hold the declines could send the euro lower to the previously established lows at 1.1028.
