20 Jan 2015
EUR/USD remains in red ahead of ZEW Index
FXStreet (Mumbai) - EUR/USD remained in red in the European morning, after Germany’s factory gate prices fell for a 17th consecutive month in December last year.
The EUR/USD headed south and trades now at 1.1580 levels, down -0.21% so far. The pair retreated after posting intraday high at 1.1602 levels. The common currency continued its downslide after Euro zone’s economic powerhouse, Germany’s Producer Price Index (PPI) dropped 1.7% in December, falling from the 0.9% decrease posted in the previous month.
The EUR/USD remains pressured as traders now await German ZEW Economic Sentiment that is expected to rise to 40 points in January after December's 34.9.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1602 (Today’s High) levels, above which gains could be extended to 1.1650 (Jan 16 High) levels. On the flip side, support is seen at 1.1544 (Jan 19 Low) levels, below which it could extend losses to 1.15 levels.
The EUR/USD headed south and trades now at 1.1580 levels, down -0.21% so far. The pair retreated after posting intraday high at 1.1602 levels. The common currency continued its downslide after Euro zone’s economic powerhouse, Germany’s Producer Price Index (PPI) dropped 1.7% in December, falling from the 0.9% decrease posted in the previous month.
The EUR/USD remains pressured as traders now await German ZEW Economic Sentiment that is expected to rise to 40 points in January after December's 34.9.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1602 (Today’s High) levels, above which gains could be extended to 1.1650 (Jan 16 High) levels. On the flip side, support is seen at 1.1544 (Jan 19 Low) levels, below which it could extend losses to 1.15 levels.