EUR/USD muted post-EMU data, still below 1.0900

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 19, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The European currency remains entrenched in the negative territory on Tuesday, with EUR/USD still meandering the 1.0870/80 region.

    EUR/USD ignored ZEW results

    Spot has practically ignored the auspicious results from December’s German ZEW Survey, with both Economic Sentiment and Current Situation coming in above estimates. Back to the euro area, EMU’s ZEW Economic Sentiment has missed expectations dropping to 22.7 vs. 27.9 forecasted and 33.9 previous.

    Still in the region, headline consumer prices have come in flat inter-month and gained 0.2% on a year to December, while the core print rose at an annual pace of 0.9%.

    EUR/USD levels to watch

    The pair is down 0.23% at 1.0873 and a break below 1.0798 (61.8% Fibo of 1.0538-1.1059) would aim for 1.0709 (low Jan.5) and then 1.0538 (low Dec.3). On the upside, the next hurdle aligns at 1.0987 (high Jan.15) followed by 1.0997 (100-day sma) ahead of 1.1059 (high Dec.15).
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