25 Jul 2013
EUR/USD regains 1.3200 ahead of IFO
FXstreet.com (Edinburgh) -The shared currency picked up pace overnight, pushing the EUR/USD from Wednesday’s lows around 1.3180 back beyond the key 1.3200 handle.
EUR/USD focus on IFO
Market participants will be closely watching the German IFO indicator in order to extend the recent string of positive results in the euro area and give more oxygen to the 3-week EUR rally so far. Across the pond, the weekly report on the US labour market and Durable Goods Orders will be in the limelight amidst a re-emergence of Fed’s taper chatter.
EUR/USD key levels
The pair is now up 0.07% at 1.3211 with the next resistance at 1.3255 (high Jun.21) ahead of 1.3261 (76.4% of 1.3417-1.2755) and then 1.3302 (high Jun.20). On the downside, a break below 1.3190 (low Jul.24) would open the door to 1.3164 (low Jul.23) and then 1.3115 (low Jul.22).
EUR/USD focus on IFO
Market participants will be closely watching the German IFO indicator in order to extend the recent string of positive results in the euro area and give more oxygen to the 3-week EUR rally so far. Across the pond, the weekly report on the US labour market and Durable Goods Orders will be in the limelight amidst a re-emergence of Fed’s taper chatter.
EUR/USD key levels
The pair is now up 0.07% at 1.3211 with the next resistance at 1.3255 (high Jun.21) ahead of 1.3261 (76.4% of 1.3417-1.2755) and then 1.3302 (high Jun.20). On the downside, a break below 1.3190 (low Jul.24) would open the door to 1.3164 (low Jul.23) and then 1.3115 (low Jul.22).