19 Nov 2013
EUR/USD pierces 1.3500 on mixed ZEW
FXstreet.com (Edinburgh) - The bloc currency is now losing the grip against the greenback, pushing the EUR/USD to put the key support at 1.3500 to the test.
EUR/USD weaker after ZEW
The pair dipped to fresh lows below the 1.3500 handle in the wake of the release of the ZEW Survey. The key survey showed that the Economic Sentiment rose to 54.6 for the month of November, exceeding expectations and the previous print at 54.0 and 52.8, respectively; however, the Current Situation component dropped to 28.7 vs. 31.0 forecasted and October’s 29.7. The EMU’s Economic Sentiment bettered to 60.2 vs. 59.1 previous. Further data showed that the Construction Output in the euro area contracted at an annual pace of 0.2%.
EUR/USD key levels
The pair is now losing 0.03% at 1.3499 and a breakdown of 1.3483 (daily cloud top) would aim for 1.3473 (low Nov.18) and finally 1.3456 (MA10d). On the upside, the initial hurdle lines up at 1.3542 (high Nov.18) ahead of 1.3548 (high Nov.6) and then 1.3583 (MA21d).
EUR/USD weaker after ZEW
The pair dipped to fresh lows below the 1.3500 handle in the wake of the release of the ZEW Survey. The key survey showed that the Economic Sentiment rose to 54.6 for the month of November, exceeding expectations and the previous print at 54.0 and 52.8, respectively; however, the Current Situation component dropped to 28.7 vs. 31.0 forecasted and October’s 29.7. The EMU’s Economic Sentiment bettered to 60.2 vs. 59.1 previous. Further data showed that the Construction Output in the euro area contracted at an annual pace of 0.2%.
EUR/USD key levels
The pair is now losing 0.03% at 1.3499 and a breakdown of 1.3483 (daily cloud top) would aim for 1.3473 (low Nov.18) and finally 1.3456 (MA10d). On the upside, the initial hurdle lines up at 1.3542 (high Nov.18) ahead of 1.3548 (high Nov.6) and then 1.3583 (MA21d).