EUR/USD keeps the red post-ZEW

The common currency remains entrenched in the negative territory after the release of the ZEW Survey, with EUR/USDhovering over the 1.1180 region.

EUR/USD weaker on poor ZEW

Disappointing results from the ZEW Survey failed to spark any buying interest in the euro, after Economic Sentiment in both Germany and the euro area have come in below expectations for the current month.

The abrupt drop of EUR/GBP in response to a pick up in the demand for the British pound is also weighing on spot today, now trading closer to the critical support area around 1.1140.

EUR/USD levels to watch

The pair is now losing 0.32% at 1.1185 and a break below 1.1163 (100-day sma) would target 1.1142 (low Mar.24) en route to 1.1103 (200-day sma). On the other hand, the initial hurdle aligns at 1.1302 (55-day sma) followed by 1.1351 (20-day sma) and finally1.1448 (high May 11).