15 Jul 2014
EUR/USD drops below 1.3600 after ZEW data
FXStreet (Córdoba) - The EUR/USD extended losses to below 1.3600 after the Eurozone and Germany ZEW economic sentiment surveys came in below expectations.
Eurozone ZEW economic sentiment survey came in at 61.8 in July versus 62.3 expected, while for Germany it was down to 27.1 against 28.0.
The EUR/USD had been dragged by a sharp selloff in EUR/GBP after the spike in UK inflation and extended the downside following ZEW data. The EUR/USD bottomed out at 1.3586 and it is currently trading at 1.3595, still down 0.17% on the day.
EUR/USD technical levels
In terms of technical levels, if the EUR/USD breaks decisively below the 1.3586/88 area, next supports are seen at 1.3575 (Jul 7 low) and 1.3565 (Jun 20 low). On the flip side, resistances could be found at 1.3650 (Jul 10 high), 1.3675 (200-day SMA) and 1.3700 (psychological level).
Eurozone ZEW economic sentiment survey came in at 61.8 in July versus 62.3 expected, while for Germany it was down to 27.1 against 28.0.
The EUR/USD had been dragged by a sharp selloff in EUR/GBP after the spike in UK inflation and extended the downside following ZEW data. The EUR/USD bottomed out at 1.3586 and it is currently trading at 1.3595, still down 0.17% on the day.
EUR/USD technical levels
In terms of technical levels, if the EUR/USD breaks decisively below the 1.3586/88 area, next supports are seen at 1.3575 (Jul 7 low) and 1.3565 (Jun 20 low). On the flip side, resistances could be found at 1.3650 (Jul 10 high), 1.3675 (200-day SMA) and 1.3700 (psychological level).