25 Mar 2014
EUR/USD muted after IFO
FXStreet (Edinburgh) - The single currency remained unchanged after the German IFO indicator, with the EUR/USD treading water around 1.3830/35.
EUR/USD apathetic on mixed IFO
The key German indicator came in mixed for the month of March, with Current Assessment surpassing the median and previous print at 115.2 while Business Climate (110.7 act.) and Expectations (106.4 act.) missed estimates. Next on tap in the euro bloc will be the speech by President M.Draghi. Earlier data releases in the region showed that Business Climate in France remained at 100, and Analyst Julien Manceaux at ING Bank NV commented “This morning’s result confirms the slight improvement given yesterday in the manufacturing PMI survey. Besides, the service PMI survey reached its October level in March. Together with better order books, it looks as if activity could accelerate somewhat around mid-year”.
EUR/USD key levels
At the moment the pair is up 0.01% at 1.3839 with the next resistance at 1.3877 (high Mar.24) followed by 1.3935 (high Mar.19) and finally 1.3944 (high Mar.18). On the flip side, a breakdown of 1.3822 (21-d MA) would expose 1.3760 (low Mar.24) and then 1.3749 (low Mar.20).
EUR/USD apathetic on mixed IFO
The key German indicator came in mixed for the month of March, with Current Assessment surpassing the median and previous print at 115.2 while Business Climate (110.7 act.) and Expectations (106.4 act.) missed estimates. Next on tap in the euro bloc will be the speech by President M.Draghi. Earlier data releases in the region showed that Business Climate in France remained at 100, and Analyst Julien Manceaux at ING Bank NV commented “This morning’s result confirms the slight improvement given yesterday in the manufacturing PMI survey. Besides, the service PMI survey reached its October level in March. Together with better order books, it looks as if activity could accelerate somewhat around mid-year”.
EUR/USD key levels
At the moment the pair is up 0.01% at 1.3839 with the next resistance at 1.3877 (high Mar.24) followed by 1.3935 (high Mar.19) and finally 1.3944 (high Mar.18). On the flip side, a breakdown of 1.3822 (21-d MA) would expose 1.3760 (low Mar.24) and then 1.3749 (low Mar.20).