The trade balance figures from Germany saw the surplus rising to 19.2 billion euros for the month of September. The gains came as exports grew faster than expected including an increase in imports.
German exports rose 1.5% on the month, reversing the 0.9% decline in August. Imports were up 1.3% in September from 0.1% in August.
EUR/USD on Track to Test Support
The currency pair maintained the bearish momentum. Price action is on track to post declines that will test the price level of 1.0005. Establishing support at this level which previously served as resistance could stall declines in the near term. As long as the support holds, the EURUSD will likely maintain a sideways range above the support area.
