ByJin Dao Tai
OCT 26, 2021
Overall, EUR/USD is trending downwards. Recently, EUR/USD broke the support zone of 1.16300.
The German ifo Business Climate data (Actual: 97.7, Forecast: 98.2, Previous: 98.9 revised from 98.8) released yesterday indicated that businesses are less optimistic on the current business conditions and expectations for the next 6 months.
Currently, EUR/USD is moving towards the resistance zone of 1.16300 and the next support zone is at 1.15000.
Look for short-term selling opportunities of EUR/USD if it bounces off the resistance zone of 1.16300.
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