On Tuesday, EUR/USD cleared a few intermediate resistance levels. A poor ZEW economic sentiment survey was ignored. A rebound of risky assets after Monday’s sell-off triggered though further short-squeeze in EUR/USD, leaving the pair north of the 1.3261 resistance in the close.
Intraday, EUR/USD touched an interim low in Asia, as sentiment on risk deteriorated after the US equity sell-off and the Boston bombings on Monday evening. However, Asian markets found their composure soon and EUR/USD changed hands in the 1.3080 at the open of the European markets. Initially, European equity investors stayed rather cautious and rumours on a weak ZEW survey even pushed EUR/USD back to the mid 1.30 area.
Click here to read the full report: Market Research
KBC