Overall, EUR/USD is trending downwards.
The series of flash PMI data released last Friday indicated an overall slowdown in business activities across Europe amid the ongoing supply bottlenecks.
The German ifo Business Climate data (Forecast: 98.2, Previous: 98.8) will be released later at 1600 (GMT+8).
Currently, EUR/USD is testing the support zone of 1.16300 and the next resistance zone is at 1.17600.
Look for short-term buying opportunities of EUR/USD if it bounces off the support zone of 1.16300.
The series of flash PMI data released last Friday indicated an overall slowdown in business activities across Europe amid the ongoing supply bottlenecks.
- French Flash Manufacturing PMI (Actual: 53.5, Forecast: 53.9, Previous: 55.0 revised from 55.2)
- French Flash Service PMI (Actual: 56.6, Forecast: 55.6, Previous: 56.2 revised from 56.0)
- German Flash Manufacturing PMI (Actual: 58.2, Forecast: 56.5, Previous: 58.4 revised from 58.5)
- German Flash Services PMI (Actual: 52.4, Forecast: 55.2, Previous: 56.2 revised from 56.0)
- Flash Manufacturing PMI (Actual: 58.5, Forecast: 57.0, Previous: 58.6 revised from 58.7)
- Flash Services PMI (Actual: 54.7, Forecast: 55.4, Previous: 56.4 revised from 56.3)
The German ifo Business Climate data (Forecast: 98.2, Previous: 98.8) will be released later at 1600 (GMT+8).
Currently, EUR/USD is testing the support zone of 1.16300 and the next resistance zone is at 1.17600.
Look for short-term buying opportunities of EUR/USD if it bounces off the support zone of 1.16300.
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