EURUSD sellers recapture near-term control ahead of German Zew survey

The change in near-term bias (more bearish) comes as sellers broke underneath the 100 and 200-hour Moving Averages on Monday in a transition to test the 1.1000 handle.

Right now, the downtrend is running into support around the figure level with the 61.8 retracement level at 1.0997 giving added support to the time being.

Sellers may have taken near-term control again however with the Fed gathering tomorrow, price could possibly sit near 1.1000 before discovering more direction this week.

Today’s economic calendar contains German ZEW Survey – Economic sentiment and US industrial production data.

Rose Alice

About: Rose Alice

Rose Alice has a long experience as a currency analyst with a deep knowledge of the relationship between macroeconomics and currencies fluctuation.