FxWirePro: EUR/USD holds above the 1.10 handle, focus on German IFO data

The euro crawled up to  1.1043 early in Asia after falling to 1.0989, its lowest since Aug 11 on Friday's trade, currently at 1.1037.

• The dollar index is down on the day after hitting 97.201 on Friday, its highest since Aug 12
   
• EUR is expected to remain under pressure as today's German IFO is expected a tad lower than the previous readings
   
• Any positive surprise could see the pair above the 1.11 handle, daily Techs also pointing to a move higher
   
• Price has bounced off strong trendline support at 1.10, RSI and Stochs on dailies are at oversold, correction higher likely
   
• Breaks below 1.10 could take the pair towards major support at 1.08 
   
• Resistance for the pair is seen at 1.1064 flat Ichi hourly kijun, ahead of descending 200-DMA at 1.1117
   
• While support on the downside lies at ascending hourly Ichi tenkan at 1.1024 and further below at 1.10