ByJin Dao Tai
AUG 26, 2021
Overall, EUR/USD is trending downwards.
The German ifo Business Climate data (Actual: 99.4, Forecast: 100.2, Previous: 100.7 revised from 100.8) released yesterday indicated a decline in optimism in companies’ expectation due to growing concerns in the hospitality and tourism sectors as COVID cases continues to rise.
The European Central Bank will be releasing the minutes for the recent monetary policy meeting later at 1930 (GMT+8).
Day 1 of the Jackson Hole Symposium will be held tomorrow. During this time, there may be volatility in EUR/USD.
Currently, EUR/USD is testing the resistance zone of 1.17600 and the next support zone is at 1.16300.
Look for short-term buying opportunities of EUR/USD if it breaks the resistance zone of 1.17600.
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