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EUR/USD muted on ZEW, near 1.1030

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 15, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The shared currency keeps its range vs. the greenback on Tuesday, with EUR/USD hovering over the 1.1025/30 band.

    EUR/USD indifferent post-ZEW

    The pair kept the composure after the ZEW Survey has surpassed expectations for the month of December, with Economic Sentiment and Current Situation comingin at 16.1 and 55 vs. forecasts at 14.0 and 54.5.

    In the EMU space, Economic Sentiment has missed consensus at 33.9 for the current month, albeit beating November’s 28.3.

    Next on tap will be US inflation figures tracked by the CPI, with prior surveys expecting core consumer prices to have gained 2.0% on a year to November.

    EUR/USD levels to consider

    At the moment the pair is up 0.36% at 1.1026 with the next resistance at 1.1061 (100-day sma) followed by 1.1124 (61.8% Fibo of 1.1496-1.0524) and then 1.1266 (76.4% Fibo of 1.1496-1.0524). On the downside, a break below 1.0895 (38.2% Fibo of 1.1496-1.0524) would aim for 1.0808 (low Jul.20) and finally 1.0753 (23.6% Fibo of 1.1496-1.0524).
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