EUR/USD around 1.2450 on US GDP miss

- US Q4 GDP mised estimates at 2.6%.

- Spot remains firm in the mid-1.2400s.

- Daily support appears around 1.2400.

The upside momentum in the single currency stays well and sound at the end of the week, with EUR/USD now meandering the mid-1.2400s following the release of US figures.

EUR/USD bid after data

Spot keeps the positive momentum so far this week, this time helped by the disappointing releases in the US docket. In fact, the first revision odf US GDP for the fourth quarter showed the economy is expected to growth ar an annualized 2.6% vs. initial estimates at 3.0%. Further data saw GDP Price index beating forecasts at 2.4%, while durable goods orders suprised to the upside, gaining 2.9% inter-monoth in December.

EUR managed to revert yesterday´s drop to the 1.2365/60 band after President D.Trump talked up the greenback, as opposed to previous comments by US Treasury secretary S.Mnuchin on Wednesday.

In the meantime, spot remains on its way to close its sixth week with gains, including fresh multi-year tops beyond 1-2500 the figure seen yesterday.

EUR/USD levels to watch

At the moment the pair is up 0.35% at 1.2447 facint the next up barrier at 1.2537 (2018 high Jan.25) seconded by 1.2600 (psychological level). On the flip side, a breach of 1.2364 (low Jan-25) would open the door to 1.2297 (10-day sma).