The eurozone ZEW economic sentiment index released yesterday saw an increase in the index from -2.5 to 4.5 in April. The solid rebound came with Germany’s ZEW economic sentiment index also rising. Investor confidence in Germany rose to a 13-month high, bringing optimism of a rebound in the eurozone’s economy.
Will EURUSD Break Out Above 1.1300?
The EURUSD retreated off the highs after briefly testing the 1.1300 handle. The retracement saw price falling back to 1.1258. With support forming here, a rebound in the EURUSD is likely. The next main target is at the 1.1330 handle. If the common currency manages to break this level, we anticipate a move toward 1.1400.
