Overall, EUR/USD is trending downwards. Recently, EUR/USD moved into the resistance zone of 1.18200.
The German ifo Business Climate data (Actual: 100.8, Forecast: 102.3, Previous: 101.8) released yesterday indicated a decline in business sentiment from the surveyed businesses due to concerns on rising COVID cases in Germany and supply constraints.
Currently, EUR/USD is testing the resistance zone of 1.18200 and the next support zone is at 1.16300.
Look for selling opportunities of EUR/USD if it rejects the resistance zone of 1.18200.
The German ifo Business Climate data (Actual: 100.8, Forecast: 102.3, Previous: 101.8) released yesterday indicated a decline in business sentiment from the surveyed businesses due to concerns on rising COVID cases in Germany and supply constraints.
Currently, EUR/USD is testing the resistance zone of 1.18200 and the next support zone is at 1.16300.
Look for selling opportunities of EUR/USD if it rejects the resistance zone of 1.18200.