During the trading session earlier today the EUR/USD pair changed slightly with investors, remaining cautious, right after the release of ZEW indicators and industrial production data in the Eurozone. The EUR/USD cross fell to 1.2946, followed by consolidation at the 1.2975 level. The pair was expected to receive support at April 5 low 1.2903 and resistance at 1.3050, which was May 10 high.
Earlier today ZEW (Zentrum für Europäische Wirtschaftsforschung) announced the economic sentiment and current situation indicators for Germany and Eurozone. ZEW Economic Sentiment indicators marked an increase in value both for Germany and the Eurozone, while ZEW Current Situation benchmark decreased during May.
Another report stated, that Industrial Production in the Eurozone rose by 1.0% on a monthly basis, far exceeding expectations for 0.5% increase and on an yearly basis this indicator has decreased nearly two times less, by 1.7% in March, compared to the revised data during the previous month and also exceeded estimation, which suggested a decrease by 2.0%
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