The common currency was flat on Thursday despite some weak reports from the United States. The first quarter GDP’s second estimates were revised down slightly to show a 3.1% increase on the quarter, comparing to the 3.2% increase reported initially. Meanwhile, wholesale inventories rose 0.7%, recovering from the 0.1% decline in March. The weekly jobless claims stood at 215,000.
EURUSD Remains in a Range
The common currency posted a doji pattern on Thursday. This comes as the currency pair remains firmly stuck in the range near a two-year low. Price action closed below 1.1140 and remains hovering slightly above the May 23 lows. A bullish follow-through on the day could see price lifting higher to test the 1.1182 level of resistance.
