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EUR/USD eyes 1.2540 on ZEW

FXStreet (Edinburgh) - The common currency extends its march north on Tuesday, lifting EUR/USD back to the 1.2540 region.

EUR/USD boosted by ZEW

Better-than-expected ZEW results for the month of November gave extra wings to the pair, currently hovering over the 1.2540 area, or session hihgs. Data from Germany and the EMU surprised investors to the upside, with the key Economic Sentiment improving to 11.5 and 11.0, respectively. The Current Situation component in Germany also came in above estimates at 3.3 vs. 1.8 forecasted and 3.2 previous, adding to the upbeat sentiment around the EUR.

EUR/USD key levels

The pair is now advancing 0.56% at 1.2520 with the next resistance at 1.2550 (21-d MA) followed by 1.2580 (high Nov.17) and then 1.2614 (low Oct.23). On the flip side, a breakdown of 1.2457 (200-h MA) would open the door to 1.2445 (low Nov.17) and finally 1.2398 (low Nov.14).

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