- EUR remains bid into the European session on Monday, awaits German IFO data due later in the day
- EUR/USD trades just above the 1.10 barrier at 1.1022, after dropping to the 1.0920 area last Friday
- "Germany will publish Ifo Business Climate index, which we expect to have weakened in tandem with the recent (temporary) slowdown in economic figures", says Danske Bank in a report
- Any major disappointment on the data could weigh on the pair which remains supported on broad USD weakness
- Next resistance is seen at 1.1018 (Daily High Jul 23) ahead of 1.1035 (Daily High Jul 15)
- On the downside, a breach of 1.0922 (Daily Low Jul 23) could see the pair at 1.0900 levels
R1: 1.1018 (Daily High Jul 23)
R2: 1.1035 (Daily High Jul 15)
R3: 1.1090 (Daily High Jul 14)
Support levels:
S1: 1.0995 (Trendline support)
S2: 1.0922 (Daily Low Jul 23)
S3: 1.0900 (Psychological Level)
