EURUSD Technical Overview: Eyes on 1.13600 and German ZEW

EURUSD is pricing in a narrow trading range. As we have mentioned in our weekly forecast, 1.13600 remains a strong resistance. The downside is capped by EMA 50 and SMA 100 H4 Chart.

On the smaller charts, Bearish Butterfly pattern is working. The pattern reached the second target.


German ZEW Economic Sentiment (Mar) is scheduled to release which may create an intraday volatility on the pair.

A worse than expected German data would send the pair below 1.13200 towards 1.12900.

A better than expected data may pull the pair back 1.13600 and 1.13800.