FXstreet.com (Barcelona) - The EUR/USD is trying to set a bottom at 1.1600 on its drop from 1.2820. Better than expected German ZEW expectations index, although the pair seems to heavy to perform a strong reversal.
The Euro has fallen to 1.2600 low in Early European session Tuesday, but the cross is suffering a strong selling pressure, and it is finding it difficult to rise past 1.2650, after having jumped to 1.2675 moments after German data was released.
On its way up, the Euro should break 1.2700/1.2725 area to return to Monday's levels around 1.2800. Below 1.2600, the Euro could look for support at 1.2550 and 1.2424.