EUR/USD around 1.1230 on poor ZEW

EUR/USD keeps the area of 1.1230 following results below estimates from the ZEW Survey in Germany and the euro area for the current month.

EUR/USD muted on data

Spot kept the composure after German Economic Sentiment has come in at 0.5 for the month of September, missing forecasts for an increase to 2.5. Further data saw Current Situation in Germany at 55.1 vs. 56.0 expected and 57.6 previous.

Additionally, Economic Sentiment in the euro region has come in at 5.4 vs. 6.7 initially forecasted.

The pair remains in a consolidative theme so far today, returning to the negative territory after Monday’s gains, with support seen around 1.1210/00 and gains so far capped by the resistance line off 2016 top, today at 1.1304.

EUR/USD levels to watch

The pair is now losing 0.04% at 1.2131 and a break below 1.1202 (2014-2016 support line) would target 1.1144 (200-day sma) en route to 1.1043 (low Aug.5). On the flip side, the next resistance aligns at 1.1304 (resistance line off 2016 high) followed by 1.1329 (high Sep.8) and finally 1.1367 (high Aug.18).