EUR/USD showed a minor pullback despite strong US GDP. It hits a intraday low of 1.07324 and currently trading around 1.07951.
The US economy grew at an annual pace of 2.4% during Q4 2024, as per the revised GDP growth rate released on March 27, 2025. This is a mild upgrade from the earlier projected 2.3% and less than 3.1% growth in the last quarter. Consumer spending was still a strong growth driver, with changes in exports and imports also contributing. The growth in GDP is the most important indicator to measure the health of U.S. economies.
Technical Analysis of EUR/USD
The pair is holding below short and below long term moving average in the 4-hour chart. Near-term resistance is seen at 1.08650; a break above this may push the pair to targets of 1.0900/1.0950/1.1000. Major bullish momentum is likely only if prices are able to break above 1.1000 where levels of 1.1070/1.1150. On the downside, support is seen at 1.0730 any violation below will drag the pair to 1.0700/1.0660/1.0600/1.0500/ 1.0460.
Market Indicators and Trading Strategy
Commodity Channel Index (CCI)- Bearish
Average Directional Movement Index (ADX) - Neutral
It is good to sell on rallies around 1.0835 with a stop-loss at 1.0870 for a target price of 1.072.
