FxWirePro: EUR/USD muted on German GDP data, rangebound into European open

• EUR/USD is trading a tight range on Friday, with day's high at 1.1160 and low at 1.1136.
  
  
• Preliminary estimate of German Q1 GDP showed that the economy expanded 0.4%, data fell short of the market expectation of 0.5%.
  
  
• EUR/USD paid little attention to the preliminary GDP figures in Germany, navigating a narrow range in the mid-1.1100s.
  
  
• Markets are getting comfortable with the new China fx regime and remain calm this morning, attention remains on EMU's GDP and CPI figures ahead of the Eurogroup meeting.
  
  
• As the time of writing EUR/USD is trading at 1.1143, almost unchanged on the day, with immediate support and resistance at 1.1098 (55 DMA) and 1.1216 (Daily High Jul 10) respectively.
  
  

Resistance Levels:

R1: 1.1189 (Daily High Aug 13)

R2: 1.1215 (Daily High Aug 12)

R3: 1.1216 (Daily High Jul 10)

Support Levels:

S1: 1.1098 (55 DMA)

S2: 1.1081 (Daily Low Aug 13)

S3: 1.1031 (Tenkan-Sen)