The Sentix investor confidence for the eurozone turned positive for the first time in six months. The index rose to 0.7 from -4.5 previously. The data was also better than the estimates which forecast a decline to -5.4. This was also the highest level since March 2018.

EUR/USD Fails at Minor Resistance

The euro was reversing the intraday gains after a brief rally. Price action turned weaker after the euro hit 1.1072. A retest of this level to establish resistance was expected.

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Price action will now have to slip below the recent pivot lows of 1.1055 to confirm further downside. The next main support that could be tested is at 1.1000.


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