The EUR/USD recovery was capped at the 1.3045 level, as the foreign exchange rate could not garner any additional momentum and retreated lower Wednesday. According to the Dukascopy Bank Team, “The EUR/USD started the week by trying to fall below the 200-day SMA. As suggested by the short-term technicals it seems that the pair is likely to advance further. In such cases, the 1.3200 level might become the level which will fail the pair and should send it towards 1.30 where expectations of major market participants are consolidated.” Despite the recent pullback, the EUR/USD technical pair is still operating off earlier intraday lows (1.3014), and is now operating at 1.3044 during US trading, down a sizable -0.35% at the time of writing. Consistent with the calculations of the analyst team, pair will face supports at 1.3050 then 1.3015 (session low), and 1.2964. Earlier today in the United States, Gross Domestic Product Annualized (Q1) came in at only +1.8%, missing expectations of +2.4%. Moreover, the Gross Domestic Product Price Index was reported at +1.3%, beating estimates of +1.1%. Finally, Core Personal Consumption Expenditures (QoQ) grew +1.3% in Q1, matching projections.