25 Aug 2015
EUR/USD keeps lows on IFO
FXStreet (Edinburgh) - The single currency remained apathetic after the release of the German IFO, with EUR/USD visiting the lower bound of the daily range around 1.1530/25.
EUR/USD a tad weaker post-IFO
The pair remains entrenched in the negative territory despite the German IFO indicator has surprised markets to the upside for the current month, with Business Climate, Expectations and Current Assessment all coming in above consensus.
Markets in Europe continue to show signs of relief despite another sharp sell-off in the Chinese equities, with the risk-on trade poised for a positive start so far.
EUR/USD key levels
At the moment the pair is retreating 0.81% at 1.1524 with the next support at 1.1525 (low Aug.25) followed by 1.1420 (low Aug.24) and finally 1.1240 (low Aug.21). On the flip side, a breakout of 1.1714 (high Aug.24) would open the door to 1.1786 (high Jan.15) and then 1.1846 (high Jan.14).
EUR/USD a tad weaker post-IFO
The pair remains entrenched in the negative territory despite the German IFO indicator has surprised markets to the upside for the current month, with Business Climate, Expectations and Current Assessment all coming in above consensus.
Markets in Europe continue to show signs of relief despite another sharp sell-off in the Chinese equities, with the risk-on trade poised for a positive start so far.
EUR/USD key levels
At the moment the pair is retreating 0.81% at 1.1524 with the next support at 1.1525 (low Aug.25) followed by 1.1420 (low Aug.24) and finally 1.1240 (low Aug.21). On the flip side, a breakout of 1.1714 (high Aug.24) would open the door to 1.1786 (high Jan.15) and then 1.1846 (high Jan.14).