EURUSD Tests Key Resistance 1.1800 On Strong German (ZEW) Sentiment

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The German (ZEW) Economic Sentiment Index rose by 71.5, from 59.3 a month earlier, passing a forecast of 58.0. This development pushed the EURUSD to the critical resistance 1.1800. If the market closes above 1.1800 today. The pair is likely to retake 1.1875 levels. A break above here aims at 1.1938 levels.

On the downside, A rejection from 1.1800 level could mean a return to 1.1735 with a break below that level targeting the 1.1685 levels. A halt is likely but losing 1.1685 aims the 1.1625 levels.

In conclusion: The EURUSD still faces fall threats even in the case of corrective recovery below 1.1800 levels.

Next, the focus will turn to U.S PPI (MoM) (Jul) at 12:30 GMT.

EURUSD Tests Key Resistance 1.1800 On Strong German (ZEW) Sentiment

MARKET DATA

UPCOMING ECONOMIC EVENTS