27 Jul 2015
EUR/USD clings to 1.10 ahead of IFO
FXStreet (Edinburgh) - The shared currency is extending the bid tone into the European session on Monday, lifting EUR/USD just above the 1.10 barrier.
EUR/USD focused on IFO
Spot has returned to the 1.10 neighborhood after dropping to the 1.0920 area last Friday, looking to challenge last week’s tops in the vicinity of 1.1020. In the meantime, the German IFO indicator is coming up next, with consensus expecting small corrections lower for the current month, followed by EMU’s M3 Money Supply and Private Loans figures.
Across the pond, Durable Goods Orders are expected to revert the recent drop and advance 3% during June.
EUR/USD levels to watch
At the moment the pair is up 0.20% at 1.1004 with the next resistance at 1.1015 (high Jul.27) ahead of 1.1019 (high Jul.23) and finally 1.1036 (high Jul.15). On the downside, a breach of 1.0931 (low Jul.24) would target 1.0892 (low Jul.22) en route to 1.0812 (low Jul.21).
EUR/USD focused on IFO
Spot has returned to the 1.10 neighborhood after dropping to the 1.0920 area last Friday, looking to challenge last week’s tops in the vicinity of 1.1020. In the meantime, the German IFO indicator is coming up next, with consensus expecting small corrections lower for the current month, followed by EMU’s M3 Money Supply and Private Loans figures.
Across the pond, Durable Goods Orders are expected to revert the recent drop and advance 3% during June.
EUR/USD levels to watch
At the moment the pair is up 0.20% at 1.1004 with the next resistance at 1.1015 (high Jul.27) ahead of 1.1019 (high Jul.23) and finally 1.1036 (high Jul.15). On the downside, a breach of 1.0931 (low Jul.24) would target 1.0892 (low Jul.22) en route to 1.0812 (low Jul.21).