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13 Aug 2013
EUR/USD climbs to 1.3320 post-ZEW
FXstreet.com (Edinburgh) -The EUR/USD rapidly climbed to session highs near 1.3320 after the German ZEW Survey bettered expectations for the month of August.
EUR/USD keeps the good mood
The pair keeps the bid tone after the upbeat data from Germany and the EMU, where the ZEW Survey showed improvements above forecasts. Further data showed mixed results from the EMU’s industrial production, expanding 0.7% on a monthly basis and 0.3% in a year to June. “The EUR is unlikely to give up too much ground to the greenback. We retain our 12-mth forecast of EUR/USD1.2800”, commented Jane Foley, Strategist at Rabobank.
EUR/USD levels to watch
At the moment the pair is up 0.07% at 1.3309 with the next resistance at 1.3391 (high Aug.9) followed by 1.3401 (high Aug.8) and then 1.3417 (high Jun.19). On the flip side, a breakdown of 1.3266 (low Aug.7) would expose 1.3246 (low Aug.6) and finally 1.3233 (low Aug.5).
EUR/USD keeps the good mood
The pair keeps the bid tone after the upbeat data from Germany and the EMU, where the ZEW Survey showed improvements above forecasts. Further data showed mixed results from the EMU’s industrial production, expanding 0.7% on a monthly basis and 0.3% in a year to June. “The EUR is unlikely to give up too much ground to the greenback. We retain our 12-mth forecast of EUR/USD1.2800”, commented Jane Foley, Strategist at Rabobank.
EUR/USD levels to watch
At the moment the pair is up 0.07% at 1.3309 with the next resistance at 1.3391 (high Aug.9) followed by 1.3401 (high Aug.8) and then 1.3417 (high Jun.19). On the flip side, a breakdown of 1.3266 (low Aug.7) would expose 1.3246 (low Aug.6) and finally 1.3233 (low Aug.5).