FXstreet.com (Barcelona) - The shared currency is orbiting around 1.2680 on Tuesday, ahead the ZEW Survey in both Germany and the euro zone, gauging investors’ confidence and sentiment for the present month. Market consensus expects the headline to post mixed results.

It is worth noting that both Spanish and Italian October inflation figures have come in pretty in line with market expectations, rising 3.5% and 2.6% on a yearly basis, respectively.

At the moment, the cross is down 0.22% at 1.2681 and a dip below 1.2627 (low Sep.7) would clear the way to 1.2607 (50% of 1.2042-1.3173) then 1.2600 (psychological level) and 1.2561 (low Sep.6).
On the upside side, resistance levels line up at 1.2710 (high Nov.13) would aim to 1.2739 (high Nov.12) en route to 1.2791 (high Nov.9) and 1.2798 (MA10d).