Euro Zone : The strong surveys of confidence does not yet allow the Euro to break its resistance

On the economic calendar, the surveys of confidence in the euro zone emerged overall above expectations, but the Euro does not react on the Forex.

Consumer confidence is apparent in line with expectations at -1.2 versus -1.5 previously. The business climate goes back to 1.3 against 1.1 expected and previously. The economic sentiment is also apparent in rising and above expectations in the service sectors and industry.

However, this publication which generally has little influence does not allow EUR/USD to break its resistance and the higher of the previous day at 1.1775.

The consolidation in the range 1.1775/1.1720 continues so for the time being.

The next issue to watch will be the CPI in Germany at 14h.

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