Investor sentiment in Germany rose more than expected in November. The ZEW economic sentiment index rose to -2.1, up from -22.8 from the previous month. The data also came out better than the forecasts of -13.2.
For the rest of the eurozone, the economic index rose to -1.0 from -23.5 previously.
EUR/USD Testing Support
The EURUSD continued to decline. Price action remains weak, testing the support area of 1.1000.
However, on the 4-hour chart, the Stochastics oscillator is forming a bullish divergence. If price bounces to the upside, the common currency will test the resistance area of 1.1075 – 1.1062 level.
