Overall, EUR/USD is trending downwards. Recently, EUR/USD bounced up from the key level of 1.17.
The German ifo Business Climate data (Actual: 98.8, Forecast: 99.0, Previous: 99.6 revised from 99.4) released last Friday slipped amid ongoing supply chain issues.
The European Central Bank President Lagarde will be testifying before the Committee on Economic and Monetary Affairs later at 1945 (GMT+8). During this time, there may be volatility in EUR.
EUR/USD’s next support zone is at 1.16300 and the next resistance zone is at 1.17600.
Look for short-term selling opportunities of EUR/USD if it breaks below the key level of 1.17.
The German ifo Business Climate data (Actual: 98.8, Forecast: 99.0, Previous: 99.6 revised from 99.4) released last Friday slipped amid ongoing supply chain issues.
The European Central Bank President Lagarde will be testifying before the Committee on Economic and Monetary Affairs later at 1945 (GMT+8). During this time, there may be volatility in EUR.
EUR/USD’s next support zone is at 1.16300 and the next resistance zone is at 1.17600.
Look for short-term selling opportunities of EUR/USD if it breaks below the key level of 1.17.