EURUSD chart analysis

During the Asian session, the euro strengthened against the dollar and peaked at 1.07675. The second reading of the US GDP showed a gloomier picture of the state of the American economy in the first quarter yesterday, and the day before yesterday's notes from the last meeting of the Fed showed a slightly milder hawkish tone. As the European session began, the euro began to retreat and is now at the 1.07200 level: Since the start of trading last night, the euro has been down 0.08% against the dollar. We need a new positive consolidation and a return to this morning's level for the bullish option. After that, we need a breakthrough above the 1.07500 level. Our following potential bullish targets are 1.08000 and 1.08500 levels. We need a negative consolidation and a break below the 1.07000 level for the bearish option. Additional support at that level is the MA50 moving average. A fall below this support zone would bring us down to the 1.06500 level. And if the bearish pressure increases, our following potential targets are 1.06000, 1.05500 and 1.05000 levels.