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12 Aug 2014
EUR/USD got another portion of pressure from ZEW
FXStreet (Moscow) - EUR/USD slid to 1.3355 low before the ZEW data release, and moved to 1.3343 post data.
When ZEW is out
The pair came under pressure from the opening, mostly pressured by the stronger demand on the USD. However, the market waited for the ZEW data from Germany as well in order to find confirmation of weakening euro zone economy. Economic sentiment index came out at 8.6 vs 18.2 expected confirming that Germany is slowing given the 8 months of disappointing ZEW index in a row. The ZEW current situation number was 44.3 vs 55.5 expected. The pair moved to 1.3343 low right after the release, and the next target may lie at 1.33 area.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3392, with support below at 1.3372, 1.3359 and 1.3339, with resistance above at 1.3405, 1.3425, and 1.3438. Hourly Moving Averages are bearish, with the 200SMA bearish at 1.3390 and the daily 20EMA bearish at 1.3445. Hourly RSI is bearish at 34.
When ZEW is out
The pair came under pressure from the opening, mostly pressured by the stronger demand on the USD. However, the market waited for the ZEW data from Germany as well in order to find confirmation of weakening euro zone economy. Economic sentiment index came out at 8.6 vs 18.2 expected confirming that Germany is slowing given the 8 months of disappointing ZEW index in a row. The ZEW current situation number was 44.3 vs 55.5 expected. The pair moved to 1.3343 low right after the release, and the next target may lie at 1.33 area.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3392, with support below at 1.3372, 1.3359 and 1.3339, with resistance above at 1.3405, 1.3425, and 1.3438. Hourly Moving Averages are bearish, with the 200SMA bearish at 1.3390 and the daily 20EMA bearish at 1.3445. Hourly RSI is bearish at 34.