25 Apr 2016
EUR/USD near 1.1260 post-IFO
The shared currency keeps recovering ground lost, now pushing EUR/USD to the area of daily peaks near 1.1260.
EUR/USD firmer despite poor IFO
The pair has gained further traction despite the German IFO has surprised markets to the downside today. In fact, Business Expectations, Current Assessment and Business Climate have all missed expectations for the current month.
However, the softer tone in the greenback seems to be the main support for the pair’s upside during the European morning, sustaining in turn the mild bias towards the riskier assets.
That was all data wise in Euroland, while New Home Sales are net on tap across the pond.
EUR/USD levels to watch
The pair is now up 0.31% at 1.1258 and a break above 1.1399 (high Apr.21) would target 1.1466 (2016 high Apr.12) en route to 1.1496 (monthly high Oct.15 2015). On the flip side, the immediate support aligns at 1.1216 (low Apr.22) followed by 1.1193 (55-day sma) and finally 1.1142 (low Mar.24).
EUR/USD firmer despite poor IFO
The pair has gained further traction despite the German IFO has surprised markets to the downside today. In fact, Business Expectations, Current Assessment and Business Climate have all missed expectations for the current month.
However, the softer tone in the greenback seems to be the main support for the pair’s upside during the European morning, sustaining in turn the mild bias towards the riskier assets.
That was all data wise in Euroland, while New Home Sales are net on tap across the pond.
EUR/USD levels to watch
The pair is now up 0.31% at 1.1258 and a break above 1.1399 (high Apr.21) would target 1.1466 (2016 high Apr.12) en route to 1.1496 (monthly high Oct.15 2015). On the flip side, the immediate support aligns at 1.1216 (low Apr.22) followed by 1.1193 (55-day sma) and finally 1.1142 (low Mar.24).