EUR/USD: The Euro fails to take advantage of the Zew index higher than expected

© O Financista. EUR/USD fails to take advantage of the ZEW above expectations

The ZEW index of economic sentiment in Germany also shows up and exceeds expectations for the 5th consecutive month as data for the month of march.

The index is back up to -3.6 points, compared with -11 points early and -13.4 points previously.

On the Forex, these figures do not, however, seem to be sufficient to drive the EUR/USD to go and test the highs of yesterday (1.1359), although the pair retains a profile uptrend in the short term.

In case of correction, the upward trend line visible since the low of march 7 and currently 1.1340 will be considered as an immediate support, prior to 1.1325, which is the moving average 100 hours, and then the psychological threshold of 1.13.

Has the upside, a break above 1.1360 would be in line of sight with the psychological threshold of 1.14 and the peak of the February 28 at 1.1420.

Like this post? Please share to your friends:
Leave a Reply