20 Jan 2015
EUR/USD back above 1.1600 on ZEW
FXStreet (Edinburgh) - The single currency has regained some momentum post-ZEW, pushing EUR/USD back above the 1.1600 handle although the up moved was ephemeral.
EUR/USD backed by ZEW
Spot gained ground to the 1.1610/15 band after the Economic Sentiment component in both the EMU and Germany surpassed estimates for the month of January, improving to 45.2 and 48.8, respectively. In the same direction, German Current Situation jumped to 22.4 from December’s 10.0 and 14.9 forecasted.
EUR/USD levels to watch
As of writing the pair is down 0.17% at 1.1589 and a break below 1.1460 (11-year low Jan. 16) would target 1.1445 (low Nov.11 2003) en route to 1.1376 (low Nov.7 2003). On the flip side, the initial hurdle lines up at 1.1649 (high Jan.16) followed by 1.1754 (10-d MA) and finally 1.1792 (high Jan.15).
EUR/USD backed by ZEW
Spot gained ground to the 1.1610/15 band after the Economic Sentiment component in both the EMU and Germany surpassed estimates for the month of January, improving to 45.2 and 48.8, respectively. In the same direction, German Current Situation jumped to 22.4 from December’s 10.0 and 14.9 forecasted.
EUR/USD levels to watch
As of writing the pair is down 0.17% at 1.1589 and a break below 1.1460 (11-year low Jan. 16) would target 1.1445 (low Nov.11 2003) en route to 1.1376 (low Nov.7 2003). On the flip side, the initial hurdle lines up at 1.1649 (high Jan.16) followed by 1.1754 (10-d MA) and finally 1.1792 (high Jan.15).