The euro currency is trading towards the 1.2200 level against the US dollar, ahead of the release of key GDP and inflation data from the United States economy later today. If growth and GDP data come in stronger then market expected then the EURUSD could fall towards the 1.2100 level. Weaker than expected data from the US and the EURUSD pair could rally towards the 1.2300 area.
EURUSD pair is only bearish while trading below the 1.2220 level, key support is found at the 1.2160 and 1.2100 levels.
The EURUSD pair is only bullish while trading above the 1.2220 level, key resistance is found at the 1.2260 and 1.2300 levels.
