FXStreet (Mumbai) - Since the last Nov ZEW print, the EUR/USD pair has recovered more than 500 pips and now eases-off fresh seven-week highs to hover near 1.1030 levels. The major extends a solid recovery from post-ECB lows and now remains strongly bid on the back of broad based US dollar weakness ahead of the crucial Fed rate decision due tomorrow. Moreover, expectations of a major boost in the German business morale also contribute to the upside in the EUR/USD pair. The German ZEW economic sentiment for December is expected to be published at 10.00GMT. German ZEW sentiment to show continued improvement The ZEW will release its Economic Sentiment Index for the next six months for Germany, as well as the Current Situation Index, reflecting institutional investors' opinions. Economic sentiment is seen heading higher to 15.0 in December from 10.4 measured in November, while the Current Situation Index is expected to trend down to 54.1 from 54.4 in the previous month. The figures are expected to show continued improvement in the German business confidence, with last month’s Paris terror attacks and the ongoing developments around the Volkswagen emission scandal expected to virtually have no impact on investor’s sentiments. While the mood may be also lifted on the back of an unusually hawkish ECB policy decision and a not-so aggressive easing measures rolled-out by the central bank at its meeting earlier this month. EUR/USD: Little reaction expected on German ZEW In terms of technicals, the pair may pay little heed to the ZEW numbers, although should the data surprise to the downside, the price could halt its upbeat momentum and revert to 1.10 handle, finding immediate support at1.0985 (5-DMA/ Daily low). A break below the last, 1.0950/45 (psychological levels/10-DMA) should act as a major support. On the flip side, the major may find the immediate resistance at 1.1067 (100-DMA). A break beyond the last, doors will open for a test of 1.1087 (200-DMA). For more information, read our latest forex news.