German ZEW is expected

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The German Federal Statistical Office has posted final readings of September CPI at -0.2% on year, as expected. ZEW survey results of October for Germany will be released later today: Economic sentiment expected at 70 and current situation anticipated at –58.

From a technical point of view, on a 30-min chart, EUR/USD is capped by a declining trend line and by its declining 50-period moving average (in blue). Readers may therefore consider the potential for further weakness below 1.1815. The nearest threshold would be set at Oct. 12 bottom at 1.1785 and a second one would be set at horizontal support at 1.1770.

Source: TradingView, GAIN Capital


Related tags: EUR Forex Forex

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