When is the German ZEW survey and how could it affect EUR/USD?

German ZEW Survey Overview

The ZEW will release its German Economic Sentiment Index and the Current Situation Index at 1000 GMT in the EU session later today, reflecting institutional investors’ opinions for the next six months.

The headline economic sentiment index is expected to fall to -11.3 in March as against a -13.4 reading booked in the previous month. Meanwhile, the current situation sub-index is also likely to decelerate further to 11.2 versus 15.0 recorded in February.     

How could affect EUR/USD?

FXStreet´s own Analyst, Haresh Menghani writes: "From a technical perspective, the mentioned confluence region, near the 1.1360-65 region, might continue to act as an immediate resistance, above which the pair is likely to accelerate the up-move towards reclaiming the 1.1400 round figure mark.”

“On the flip side, the 1.1325 region, closely followed by the 1.1300 round figure mark, now seems to have emerged as immediate support, which if broken might accelerate the fall further towards 1.1260-55 intermediate support en-route the 1.1215 region and the 1.1200 handle,” Haresh adds.

Key Notes

EUR/USD needs to break above this resistance level to unleash the upside – Confluence Detector

EUR futures: rising odds for a correction lower

EUR/USD First Signal of Large Bullish Correction?

About German ZEW

The Economic Sentiment published by the Zentrum für Europäische Wirtschaftsforschung measures the institutional investor sentiment, reflecting the difference between the share of investors that are optimistic and the share of analysts that are pessimistic. Generally speaking, an optimistic view is considered as positive (or bullish) for the EUR, whereas a pessimistic view is considered as negative (or bearish).