Forex: EUR/USD regains 1.3000 after Italian GDP

The euro is now hovering over the key limestone of 1.3000 on Monday after the Italian final figures for the GDP showed an annual contraction of 2.8% in the fourth quarter, missing the median at -2.7% and matching the prior reading. Inter-quarter the economic activity contracted 0.9%, matching forecasts.

Next data in the euro area would show the final Q4 GDP figures for Portugal and Greece, expected to contract further from the previous quarter.

EUR/USD is now up 0.08% at 1.3006 and a breakout of 1.3044 (MA10d) would bring1.3126 (MA100d) en route to 1.3135 (high Mar.8).
On the downside, support levels line up at 1.2956 (low Mar.8) ahead of 1.2929 (low Dec.11) and then 1.2881 (low Dec.10).