FXStreet (Edinburgh) – The offered tone around the European currency is now picking up pace, dragging EUR/USD to visit daily lows in the mid-1.0600s so far.
EUR/USD attention to the German ZEW Survey
The pair’s selling bias remains firm at the beginning of the week, retreating for the third consecutive session so far following the rejection from the 1.0830 area last Thursday.
In the meantime, market participants will turn their focus to the upcoming ZEW Survey in both Germany and EMU, followed by key inflation figures in the US economy.
EUR/USD levels to watch
As of writing the pair is losing 0.30% at 1.0653 facing the next support at 1.0600 (psychological level) ahead of 1.0519 (low Apr.13) and finally 1.0456 (2015 low Mar.16). On the other hand, a breakout of 1.0807 (downtrend from 1.1496) would target 1.0829 (high Nov.12) en route to 1.1076 (200-day sma).
(Market News Provided by FXstreet)