Overall, EUR/USD is trending upwards. Recently, EUR/USD bounced down from the key level of 1.21.
The German ifo Business Climate data (Actual: 96.8, Forecast: 97.8, Previous: 96.6) released yesterday indicated a lower-than-expected increase in business morale for the month of April amid a third wave of the COVID-19 pandemic.
EUR/USD’s next support zone is at 1.19700 and the next resistance zone is at 1.21500. Look for short-term selling opportunities of EUR/USD.