FX : EUR/USD: Euro returns to levels right above 1.4100 after post-ZEW spike
FXstreet.com (Barcelona) - Euro recovery from Monday's low at 1.4045 low reached an intra-day high at 1.4155 on the back of an unexpectedly high German ZEW economic sentiment index, although the pair eased afterwards to current levels around 1.4110.
According to the Swiss e Trade Strategy Team, the Euro is in an uptrend which could extend to 1.4200 on U.S. session: "On an uptrend this European morning, this market seems to be attacking the 1.4200 resistance level again. Right now at 1.4130 and with the strength unbroken, we expect at test of the 1.4200 mark today. Later on, a sideways market between 1.4200 and 1.4150 could emerge."
Initial resistance area, remains at 1.4160 (Aug 14 low), and above there, next resistances lie at 1.4210 and 1.4265/70. Support levels lie at 1.4090 (Aug 12 low), and below there, intra-day low at 1.4065 and Monday's low at 1.4045.
