18 Dec 2014
EUR/USD unmoved after Ifo Survey
FXStreet (Mumbai) - The Euro remained steady against the US dollar after German Ifo Survey, continuing its slide from the previous session.
The EUR/USD pair traded at 1.2323 levels, down -0.17% on the day, after Germany’s Ifo Business Climate data. The Euro traded steady against the US dollar as German Ifo Survey came out to be in line with market expectations. The headline Ifo Business Climate Index ticked up to 105.5 in the reported period after last month's reading of 104.7. Meanwhile, Ifo Expectations, an indicator of business projections for the next six months, hiked to 101.1 points this month after 99.8 in November.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.2343 (5-day SMA) levels, above which gains could be extended to 1.2376 (20-day SMA) levels. On the flip side, support is seen at 1.2320 (Dec 17 Low) levels, below which it could extend losses to 1.2291 (Dec 9 Low) levels.
The EUR/USD pair traded at 1.2323 levels, down -0.17% on the day, after Germany’s Ifo Business Climate data. The Euro traded steady against the US dollar as German Ifo Survey came out to be in line with market expectations. The headline Ifo Business Climate Index ticked up to 105.5 in the reported period after last month's reading of 104.7. Meanwhile, Ifo Expectations, an indicator of business projections for the next six months, hiked to 101.1 points this month after 99.8 in November.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.2343 (5-day SMA) levels, above which gains could be extended to 1.2376 (20-day SMA) levels. On the flip side, support is seen at 1.2320 (Dec 17 Low) levels, below which it could extend losses to 1.2291 (Dec 9 Low) levels.