EUR/USD around 1.1760 on ZEW, CPI

The shared currency stayed apathetic following the release of the ZEW survey, keeping the trade in the 1.1760 area for the time being.

EUR/USD unchanged on data

The pair kept the familiar range today after the ZEW survey disappointed expectations in both Germany and the euro area.

In fact, German current conditions dropped to 87.0 for the current month and the economic sentiment came in at 17.6 vs. 20.0 initially forecasted.

In the euro area, economic sentiment fell to 26.7 for the same period, down from September’s 31.7 and 34.2 previously estimated.

Still in the bloc, final CPI prints saw consumer prices rising 1.5% in a year to September and 0.4% inter-month. Core prices rose 1.1% YoY and 0.4% on a monthly basis.

In the meantime, the pair stays depressed around session lows in the 1.1760/50 band amidst a broad-based demand for the greenback.

Ahead in the session, US export/import price index is due, seconded by September’s capacity utilization, industrial and manufacturing production, the NAHB index and TIC flows.

EUR/USD levels to watch

At the moment, the pair is losing 0.31% at 1.1760 and faces the initial support at 1.1686 (low Oct.6) followed by 1.1662 (low Aug.17) and finally 1.1638 (100-day sma). On the upside, a breakout of 1.1843 (55-day sma) would target 1.1882 (high Oct.12) en route to 1.1911 (high Aug.2).