19 Jan 2016
EUR/USD muted post-EMU data, still below 1.0900
FXStreet (Edinburgh) - The European currency remains entrenched in the negative territory on Tuesday, with EUR/USD still meandering the 1.0870/80 region.
EUR/USD ignored ZEW results
Spot has practically ignored the auspicious results from December’s German ZEW Survey, with both Economic Sentiment and Current Situation coming in above estimates. Back to the euro area, EMU’s ZEW Economic Sentiment has missed expectations dropping to 22.7 vs. 27.9 forecasted and 33.9 previous.
Still in the region, headline consumer prices have come in flat inter-month and gained 0.2% on a year to December, while the core print rose at an annual pace of 0.9%.
EUR/USD levels to watch
The pair is down 0.23% at 1.0873 and a break below 1.0798 (61.8% Fibo of 1.0538-1.1059) would aim for 1.0709 (low Jan.5) and then 1.0538 (low Dec.3). On the upside, the next hurdle aligns at 1.0987 (high Jan.15) followed by 1.0997 (100-day sma) ahead of 1.1059 (high Dec.15).
EUR/USD ignored ZEW results
Spot has practically ignored the auspicious results from December’s German ZEW Survey, with both Economic Sentiment and Current Situation coming in above estimates. Back to the euro area, EMU’s ZEW Economic Sentiment has missed expectations dropping to 22.7 vs. 27.9 forecasted and 33.9 previous.
Still in the region, headline consumer prices have come in flat inter-month and gained 0.2% on a year to December, while the core print rose at an annual pace of 0.9%.
EUR/USD levels to watch
The pair is down 0.23% at 1.0873 and a break below 1.0798 (61.8% Fibo of 1.0538-1.1059) would aim for 1.0709 (low Jan.5) and then 1.0538 (low Dec.3). On the upside, the next hurdle aligns at 1.0987 (high Jan.15) followed by 1.0997 (100-day sma) ahead of 1.1059 (high Dec.15).