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EUR/USD near highs on mixed ZEW

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The single currency keeps its gains vs. the greenback, with EUR/USD hovering over 1.1340 following the ZEW Survey.

    EUR/USD closer to 1.1350 post-ZEW

    The pair has managed to keep the advance intact after April’s German ZEW Survey showed Economic Sentiment surpassing expectations at 11.2 vs. 8.0 estimated, while Current Conditions have disappointed at 47.7 vs. 51.0 forecasted.

    In the euro area, Economic Sentiment has followed suit, up to 21.5 vs. 8.8 initially estimated. Ahead in the NA session, US Housing Starts and Building Permits are also due.

    In the meantime, the upbeat sentiment in the global markets continues to be bolstered by today’s broad-based risk-on trade.

    EUR/USD levels to watch

    The pair is now up 0.24% at 1.1340 and a break above 1.1454 (2016 high Apr.7) would open the door to 1.1496 (monthly high Oct.15 2015) and then 1.1713 (high Aug.24 2015). On the flip side, the immediate support aligns at 1.1219 (38.2% Fibo of 1.0820-1.1455) followed by 1.1190 (55-day sma) and finally 1.1142 (low Mar.24).
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