15 Apr 2014
EUR/USD keeps 1.3800 on ZEW
FXStreet (Edinburgh) - The EUR/USD clings to the 1.3800 handle on Tuesday following mixed data from the ZEW Survey.
EUR/USD around 1.3800
The pair remains unable to gather any traction despite the Economic Sentiment in the euro area surpassed estimates for the month of April. Current Situation in Germany followed suit, advancing to 59.5 while Economic Sentiment in the first economy of the bloc disappointed investors at 43.2 vs. 45.0 expected. Further data showed a wider trade surplus in the euro region in February, reaching €13.9 billion. “Today’s ZEW index sends two messages, which perfectly characterise the current state of the German economy. The economy had an excellent start to the new year, gaining new momentum. However, with the Ukraine crisis, Chinese uncertainties and emerging markets slowing down more and more gusts of wind, particularly from the East, could easily disturb real spring fever on the island of happiness”, assessed Carsten Brzeski, Analyst at ING Bank NV.
EUR/USD levels to consider
The pair is now losing 0.15% at 1.3800 with the next support at 1.3794 (low Apr.15) ahead of 1.3780 (low Apr.9) and then 1.3738 (low Apr.8). On the upside, a breakout of 1.3863 (high Apr.14) would open the door to 1.3906 (high Apr.11) and then 1.3935 (high Mar.19).
EUR/USD around 1.3800
The pair remains unable to gather any traction despite the Economic Sentiment in the euro area surpassed estimates for the month of April. Current Situation in Germany followed suit, advancing to 59.5 while Economic Sentiment in the first economy of the bloc disappointed investors at 43.2 vs. 45.0 expected. Further data showed a wider trade surplus in the euro region in February, reaching €13.9 billion. “Today’s ZEW index sends two messages, which perfectly characterise the current state of the German economy. The economy had an excellent start to the new year, gaining new momentum. However, with the Ukraine crisis, Chinese uncertainties and emerging markets slowing down more and more gusts of wind, particularly from the East, could easily disturb real spring fever on the island of happiness”, assessed Carsten Brzeski, Analyst at ING Bank NV.
EUR/USD levels to consider
The pair is now losing 0.15% at 1.3800 with the next support at 1.3794 (low Apr.15) ahead of 1.3780 (low Apr.9) and then 1.3738 (low Apr.8). On the upside, a breakout of 1.3863 (high Apr.14) would open the door to 1.3906 (high Apr.11) and then 1.3935 (high Mar.19).