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Forex: EUR/USD below 1.3100 ahead of ZEW

By FXstreet.com,  September 18, 2012, 02:05:00 AM EDT

FXstreet.com (Barcelona) - The euro is trading in red figures on Tuesday, below the 1.3100 mark ahead of the German ZEW Survey for September. Consensus expects Economic Sentiment and Current Situation to come in mixed, at-19.0 (from -25.5) and 17.7 (from 18.2), respectively. Also the ZEW Survey-Economic Sentiment will be released for the euro zone.

The single currency has failed again to follow through the 1.3170 level in yesterday's session, falling since then to the actual 1.3090 region.

The cross is now losing 0.19% at 1.3090 with the immediate support at 1.3029 (Upper Bollinger) ahead of 1.3000 (psychological level) then 1.2980 (low Sep.14) and 1.2937 (high Sep.12).
On the flip side, a break out of 1.3181 (high May 3) would bring 1.3200 (psychological level) then 1.3242 (high May 2) and 1.3284 (high May 1).




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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