Forex: EUR/USD: Euro eases from 1.5000 as Zew expectations index declines

Tue, Nov 10 2009, 10:14 GMT
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FXstreet.com (Barcelona) - The Euro has pulled down slightly from 1.5000 resistance area to levels around 1.4975 on the back of the latest German ZEW economic expectations Index which shows a deterioration of Germans' assessment over the economic outlook.

The ZEW economic expectations Index has dropped to 51.1 in November from 56.0 in October, althpough the current economic conditions index has increased to -65.6 in November from -72.2 in October.

The Euro has eased from 1.5000 to levels around 1.4975 immediately after ZEW figures were released although it soon returned to previous levels and trades at 1.4990 at the moment, with next resistances at 1.5000/20 and 1.5060 (Oct 26 high). On the downside, support levels lie at 1.4950 session low, and 1.4900/15.

EUR/USD

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