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EUR/USD still holding support at 1.0840 ahead of German ZEW index due at 10am GMT

At 10am GMT the latest reading of the German ZEW economic sentiment index will be released. The markets expect this to remain generally subdued. The forecast is for the headline index to rise slightly from 19.9 to 20.5, but with the current conditions still very much in negative territory at -82 compared to a previous reading of -81.7. Ahead of this the EUR/USD has traded to test the noted 200 day moving average, at 1.0840. The low seen so far has just been set at 1.0841. Of course this index could decide whether the Euro trades below 1.0840, or continues to hold above it. As usual, much could depend on what orders lie ahead of, or at 1.0840 and whether there are any stops in place below that level. The EUR/USD is currently trading at 1.0843
 

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