EUR/USD advances to highs above 1.0600 post-ZEW

The now softer tone around the greenback is allowing EUR/USD to move further north of the 1.0600 handle on Tuesday, recording at the same time fresh daily highs.

EUR/USD through 1.0600 on upbeat ZEW

Spot gained extra traction today after the German ZEW surpassed expectations for the current month, showing Current Conditions at 80.5 and Economic Sentiment at 19.5. In the same direction, EMU’s Economic Sentiment ticked higher to 26.3 for the same period.

On the not-so-bright side, Industrial Production in the euro area contracted at a monthly 0.3% in February.

EUR/USD levels to watch

At the moment the pair is up 0.03% at 1.0601 facing the next resistance at 1.0623 (100-day sma) followed by 1.0667 (55-day sma) and finally 1.0690 (high Apr.5). On the other hand, a breakdown of 1.0568 (low Apr.10) would target 1.0523 (low Mar.9) en route to 1.0493 (low Mar.2).