ByJin Dao Tai
AUG 11, 2021
Overall, EUR/USD is ranging across.
The eurozone and German ZEW Economic Sentiment data released yesterday indicated a strong decline in economic sentiment due to the increasing risks for the German economy resulting from a possible fourth COVID-19 wave.
- ZEW Economic Sentiment (Actual 42.7, Forecast: 55.3, Previous: 61.2)
- German ZEW Economic Sentiment (Actual 40.4, Forecast: 54.9, Previous: 63.3)
Currently, EUR/USD is moving down towards the key level of 1.17. Its next support zone is at 1.16300 and the next resistance zone is at 1.18200.
Look for short-term selling opportunities of EUR/USD if it breaks below the key level of 1.17.
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