14 Jul 2015
EUR/USD keeps range around 1.1030 on ZEW
FXStreet (Mumbai) - EUR/USD was little changed in the mid-European trades, as the European currency remained largely muted following the release of German ZEW and Euro zone industrial production data.
EUR/USD holds above 1.1000
The EUR/USD pair trades 0.30% higher at 1.1031, hovering close to session highs at 1.1038 after the data release. The European currency remained lifted, shrugging of downbeat German ZEW and EZ industrial production data as the focus remains on Greece parliament vote.
The ZEW Economic Sentiment Index, evaluating the economic outlook of about 350 respondents for the six months ahead, fell to 29.7 in July, down from June when the reading stood at 31.5 points. This was the fourth consecutive month that saw investors' confidence in Europe's powerhouse decline. While, May industrial production in the Euro zone was 1.6% higher than in May and 0.4% lower than a month ago.
Meanwhile, markets await the crucial bridge financing decision as the Euro zone ministers contemplate on it while noting that it’s going to be a complex decision, ahead of tomorrow’s Greek parliament vote on the deal.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1052 (July 7 High) levels, above which gains could be extended to 1.1095 (July 6 High) levels. On the flip side, support is seen at 1.0967 (Today’s Low) below which it could extend losses to 1.0917 (July 7 Low) levels.
EUR/USD holds above 1.1000
The EUR/USD pair trades 0.30% higher at 1.1031, hovering close to session highs at 1.1038 after the data release. The European currency remained lifted, shrugging of downbeat German ZEW and EZ industrial production data as the focus remains on Greece parliament vote.
The ZEW Economic Sentiment Index, evaluating the economic outlook of about 350 respondents for the six months ahead, fell to 29.7 in July, down from June when the reading stood at 31.5 points. This was the fourth consecutive month that saw investors' confidence in Europe's powerhouse decline. While, May industrial production in the Euro zone was 1.6% higher than in May and 0.4% lower than a month ago.
Meanwhile, markets await the crucial bridge financing decision as the Euro zone ministers contemplate on it while noting that it’s going to be a complex decision, ahead of tomorrow’s Greek parliament vote on the deal.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1052 (July 7 High) levels, above which gains could be extended to 1.1095 (July 6 High) levels. On the flip side, support is seen at 1.0967 (Today’s Low) below which it could extend losses to 1.0917 (July 7 Low) levels.