The Euro rose to a two week high against the dollar as gains in global stock markets spurred demand for riskier assets and seems like investors comfortable turning back to riskier assets. The German ZEW Economic Sentiment came out 28.7 worse than expected 48.7 but it did not stop the Euro to advance. Breaching next resistance level of 1.2370 will extend the positive trend of the pair. Overall, EUR/USD traded with a low of 1.2167 and with a high of 1.2348. Today, the CPI is expected unchanged at 1.6%.

EUR/USD - Last: 1.2321

Resistance

1.2350

1.2430

 

Support

1.2270

1.2200

 

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