EUR/USD hits 2020 lows near 1.0820 after ZEW

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  • EUR/USD goes down EUR/USD to 1.0820, its new yearly low.
  • violating scan ZEW Outlook for Germany and the Eurozone.
  • The New York Empire Index of the United States and the Index NAHB and flows TIC The following are in the breasts.

Forced further decline in the common currency EUR/USD pair EUR/USD to decline to the 1.0820 area following the publication of a survey ZEW Tuesday.

EUR/USD pair EUR/USD Displayed after data

EUR/USD recovered EUR/USD More bearish strength after economic sentiment in both Germany and the broader eurozone eased to 8.7 (from 26.7) and 10.4 (from 25.6), respectively, for the current month according to the latest survey results. ZEW.

Additional data saw German current conditions miss expectations at -15.7 (from -9.5).

Meanwhile, the continued strength in the dollar keeps the EUR/USD pair EUR/USD Always under downward pressure along with a cautious stance in risk appetite trends and always look forward to developments from the Chinese coronavirus for near term direction.

Later in the North American session, the New York Empire State Index and the . gauge are scheduled to be released NAHB and flows TIC, although they are unlikely to be market drivers for the dollar in the current environment.

Influencing factors about the euro

EUR/USD does not get EUR/USD On a break in the first half of the week, it is now trading near the key support at 1.08 amid a generalized bearish outlook on the common currency. In the meantime, USD dynamics are expected to dictate the pair's price action at the moment along with broad risk trends, as coronavirus remains at the center of the debate. On the other hand, the European Central Bank is expected to complete the “strategic review” (which it announced at its meeting in January) by the end of the year, making speculation about any change in monetary policy before then solid. Moreover, the latest results from German funds and the European Monetary Union still support the view that any attempt at recovery in the region remains elusive for the time being, and is expected to continue to affect the currency.

EUR/USD levels EUR/USD to watch

At the moment, the pair lost 0.10% at 1.0823 and a break of 1.0821 (weekly low/2020 low Feb 18) would target 1.0814 (78.6% Fibo of 2017-2018 rally) on its way to 1.0569 (monthly low Apr 10, 2017). ). On the flip side, the first hurdle is at 1.0957 (weekly high Feb 10), followed by 1.0988 (SM for 21 days) and finally 1.1069 (SM for 55 days).

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