FXStreet (Córdoba) - The EUR/USD received a boost and climbed to fresh daily highs at the beginning of the European session as investors await the release of Germany's IFO survey.



However, the euro has been quite resilient to economic data lately. Yesterday, disappointing Eurozone PMIs, dovish commentary from ECB's Nowotny and higher-than-expected US existing home sales made little impact on the EUR/USD, which spent most of the day oscillating around 1.3600. As for the IFO survey, consensus for the headline Business Climate points to a tenth consecutive fall from 110.4 to 110.2.



EUR/USD technical levels



At time of writing, the EUR/USD is trading at the 1.3605 area, having hit a high of 1.3611. As for technical levels, immediate resistances could be found at 1.3612 (Jun 23 high), 1.3633 (Jun 20 high) and 1.3642 (Jun 19 high). On the flip side, supports could be found at 1.3590 (20-day SMA), 1.3575 (10-day SMA) and 1.3563 (Jun 20 low).



Related Articles
  1. Forex Education

    Four Currencies Under the Spotlight in 2016

    With currencies having become the “tail that wags the dog,” in terms of their impact on the global economy, these four currencies will be under the spotlight in 2016.
  2. Forex Fundamentals

    These Currencies Are The Biggest Losers Of The Stock Downturn

    Here’s a list of the hardest-hit currencies amid the global stock market mayhem.
  3. Forex Strategies

    Will the Euro Continue to Rally? (EUO)

    The euro is rallying. Should investors chase this performance or is the real opportunity on the other side of the trade?
  4. Investing News

    China’s Forex Reserves Dropped Significantly

    China’s forex​ reserves dropped by a record $93.9 billion at the end of August to $3.56 trillion because the Central Bank has been selling dollars to provide a cushion to the falling yuan​
  5. Forex

    The Pros and Cons of a Fully Convertible Rupee

    Amid the rising economic power of India, the talks of making the Indian currency fully convertible are gaining momentum. We look at the pros and cons.
  6. Forex Fundamentals

    Chinese Yuan an Unlikely Reserve Currency

    As the world's second largest economy, China's challenge to America’s dominance includes a push to make the yuan (RMB), the world’s reserve currency. Whether it can do that now is unclear.
  7. Economics

    How Currency Enforcement Helped Sink The Trans-Pacific Partnership (TTP)

    One particular barrier to trade that has received much attention of late and caused delays in negotiations of the TPP is exchange-rate manipulation, by which a country artificially devalues its ...
  8. Forex

    Top U.S Forex News Sites

    Breaking news moves forex markets. Here are the top U.S. sites for tracking forex news.
  9. Investing

    Financial News Comparison: Bloomberg Vs. Reuters (BAC, GOOG)

    Access to financial information has grown with the expansion of digital news. Bloomberg and Thomson Reuters lead the pack, claiming a majority of the business information market.
  10. Economics

    Who Benefits From South Korea's Lowered Interest Rates?

    South Korea is the latest country to cut interest rates in an attempt to stimulate economic growth.
COMPANIES IN THIS ARTICLE
Trading Center