After failing to clear 1.0860 resistance on Tuesday, EUR/USD turned south and declined toward 1.0800 early Wednesday.
EUR/USD came under bearish pressure and declined toward 1.0800 early Wednesday. Cautious market mood could make it difficult for the pair to rebound. US economic calendar will feature second estimate of Q4 GDP growth. The pair's technical outlook points to a bearish tilt in the near term. Market participants will pay close attention to the risk perception and the revision to the US growth data.
For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR /JPY . Later in the day, the US Bureau of Economic Analysis will release the second estimate of the annualized Gross Domestic Product growth for the fourth quarter. In the initial estimate, the BEA reported that the US economy expanded by 3.3%.
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