17 Mar 2015
EUR/USD below 1.06 pre-ZEW
FXStreet (Edinburgh) - The single currency remains in sub-1.0600 levels on Tuesday, with EUR/USD navigating within a tight range ahead of key releases in the euro region.
EUR/USD upside capped by 1.0620
The pair keeps gyrating around the 1.0600 barrier during the first half of the week, ahead of the ZEW Survey in Germany and the euro area and the final February inflation figures in Euroland. Market consensus expects consumer prices to have contracted at an annual pace of 0.3% while the ZEW Survey would improve in all of its components for the month of March.
After hitting fresh 12-year lows around 1.0460 in early trade on Monday, spot managed to regain both 1.05 and 1.06, although gains appear somewhat limited around 1.0620 so far.
EUR/USD key levels
As of writing the pair is up 0.23% at 1.0593 with the next resistance at 1.0635 (high Mar.13) ahead of 1.0683 (high Mar.12) and then 1.0718 (high Mar.11). On the flip side, a break below 1.0457 (12-year low Mar.16) would expose 1.0335 (2003 low Jan.2) and then 1.0300 (psychological level).
EUR/USD upside capped by 1.0620
The pair keeps gyrating around the 1.0600 barrier during the first half of the week, ahead of the ZEW Survey in Germany and the euro area and the final February inflation figures in Euroland. Market consensus expects consumer prices to have contracted at an annual pace of 0.3% while the ZEW Survey would improve in all of its components for the month of March.
After hitting fresh 12-year lows around 1.0460 in early trade on Monday, spot managed to regain both 1.05 and 1.06, although gains appear somewhat limited around 1.0620 so far.
EUR/USD key levels
As of writing the pair is up 0.23% at 1.0593 with the next resistance at 1.0635 (high Mar.13) ahead of 1.0683 (high Mar.12) and then 1.0718 (high Mar.11). On the flip side, a break below 1.0457 (12-year low Mar.16) would expose 1.0335 (2003 low Jan.2) and then 1.0300 (psychological level).