EUR/USD off highs post-IFO, near 1.1270

The shared currency now left the area of session highs vs. the dollar, prompting EUR/USD to recede towards the 1.1270/65 band.

EUR/USD muted post-IFO

Spot remained practically unchanged despite the German IFO has missed expectations for the current month. In fact, Expectations has come in at 100.1, Business Climate at 106.2 and Current Assessment at 112.8, all below consensus.

Anyway, the pair is clinging to its daily gains well within the range around 1.1270, ahead of the US data releases: Initial Claims, Durable Goods Orders and Services PMI.

EUR/USD levels to watch

The pair is now up 0.07% at 1.1272 and a breakout of 1.1357 (high Aug.23) would aim for 1.1434 (high Jun.24) and finally 1.1466 (high Apr.12). On the other hand, the immediate support aligns at 1.1242 (low Aug.24) followed by 1.1228 (2014-2016 support line) and finally 1.1179 (38.2% Fibo of May-June drop).