EUR/USD ignores ZEW, still above 1.1200

The single currency keeps the buoyant tone on Tuesday, with EUR/USD staying above the key barrier at the 1.1200 limestone for the time being.

EUR/USD unmoved on ZEW

The pair stayed apathetic after German economic sentiment came in below expectations for the current month at 18.6 vs. 21.5 forecasted. In addition German current conditions ticked higher to 88.0 from 83.9, while EMU’s economic sentiment bettered to 37.7 from 35.1.

Spot managed to leave behind the area of daily lows near 1.1180 as the optimism around the greenback has evaporated, prompting the US Dollar Index to re-visit lows in the 97.00 neighbourhood.

I the data space across the pond, NFIB’s index is due followed by May’s producer prices, while the FOMC 2-day meeting should kick in later today.

EUR/USD levels to watch

At the moment, the pair is gaining 0.09% at 1.1214 and a break above 1.1240 (high Jun.9) would target 1.1284 (2017 high Jun.5) en route to 1.1300 (high Nov.9 2016). On the downside, the next support aligns at 1.1165 (low Jun.9) followed by 1.1108 (low May 30) and finally 1.1073 (76.4% Fibo of 1.1300-1.0339).