Forex: EUR/USD intensifies the downside after ZEW (Barcelona) - The euro is easing further after the ZEW Survey in Germany have come in below expectations in both its components for November: Economic Sentiment fell further to -15.7 vs -11.5 in the previous month and Current Situation dropped to 5.4 from 10.0, against forecasts of -7.0 and 5.8 respectively. The ZEW survey in the EU has also came in lower at -2.6 from -1.4

After dipping to the boundaries of 1.2660, the cross is now recovering some pips at 1.2673 or -0.28% with the next support at 1.2627 (low Sep.7) followed by 1.2607 (50% of 1.2042-1.3173) then 1.2600 (psychological level) and 1.2561 (low Sep.6).
On the upside, a breakout of 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).