Overall, EUR/USD is trending downwards. Recently, EUR/USD bounced off the resistance zone of 1.19700. The German ifo Business Climate data (Actual: 101.8, Forecast: 100.8, Previous: 99.2) released yesterday indicated an increase in the level of optimism from the surveyed businesses on the Germany’s business conditions for the next 6 months. EUR/USD‘s next support zone is at 1.17900 and the next resistance zone is at 1.19700.
Look for selling opportunities of EUR/USD .



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