EUR/USD turns positive after German data, near 1.1140

The single currency has now left the negative territory and is lifting EUR/USD to the 1.1140/45 band after upbeat results in Germany.

EUR/USD in a tight range ahead of US releases

The pair keeps the trade within a narrow range at the end of the week, managing to bounce off overnight lows in the 1.1130 region to the current 1.1140/45 area.

Additionally, EUR found extra support in the auspicious results from German Q2 GDP figures, showing the economy is expected to have expanded 0.4% inter-quarter and 3.1% on a yearly basis. Further data saw German inflation figures matching its preliminary readings for the month of July.

Ahead in the session, EMU’s Q2 GDP and Industrial Production is due followed by US Retail Sales and the Reuters/Michigan index.

EUR/USD levels to watch

The pair is now up 0.04% at 1.1143 and a break above 1.1193 (high Aug.10) would open the door to 1.1236 (high Aug.2) and finally 1.1263 (50% Fibo of the May-June down move). On the flip side, the immediate support aligns at 1.1085 (200-day sma) ahead of 1.1043 (low Aug.5) and then 1.0950 (low Jul.25).