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EUR/USD muted below 1.12 on ZEW

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 16, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The European currency keeps the firm note on Tuesday, taking EUR/USD to the 1.1180 area following the German ZEW Survey.

    EUR/USD little changed post ZEW

    Spot kept the composure after the German ZEW Survey has come in mixed, showing Current Situation missing expectations while Economic Sentiment has come in better than forecasted.

    In the same line, EMU’s Economic Sentiment has surpassed expectations for the current month, although it has come in lower than January’s print.

    There will be no more releases in Euroland today, while NY Empire State index, the NAHB index and TIC Flows are due across the pond, followed by the API’s weekly report on crude oil stockpiles.

    EUR/USD levels to watch

    The pair is now up 0.25% at 1.1181 with the next hurdle at 1.1378 (high Feb.11) ahead of 1.1460 (monthly high Sep.18) and then 1.1496 (monthly high Oct.15). On the flip side, a breach of 1.1084 (low Feb.8) would target 1.1078 (20-day sma) and finally 1.1026 (200-day sma).
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