EUR/USD recovery capped near 1.0680

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 17, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The single currency remains entrenched in the negative territory on Tuesday, with EUR/USD hovering over the 1.0665/60 band.

    EUR/USD indifferent post-ZEW

    The pair has paid no attention to the mixed results from the ZEW Survey in Germany and the euro area for the current month. German Economic Sentiment has improved to 10.4 from1.9, while EMU’s print retreated to 28.3 from 30.1.

    The bearish tone around the single currency remains unabated as of late, with spot finding decent support near 1.0640 albeit the upside appears somewhat limited in the boundaries of 1.0680 so far.

    EUR/USD levels to watch

    As of writing the pair is losing 0.18% at 1.0665 facing the next support at 1.0600 (psychological level) ahead of 1.0519 (low Apr.13) and finally 1.0456 (2015 low Mar.16). On the other hand, a breakout of 1.0807 (downtrend from 1.1496) would target 1.0829 (high Nov.12) en route to 1.1076 (200-day sma).
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