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EUR/USD back to 1.1200 post-IFO

FXStreet (Edinburgh) - The shared currency has gathered further traction vs. the greenback post-IFO, lifting EUR/USD to fresh session tops near 1.1230 although losing the grip afterwards.

EUR/USD clings to 1.1200 on mixed IFO

Spot is holding on to its daily gains after the German IFO mostly surprised markets to the upside for the current month, showing improvements in both Business Climate (108.5) and Expectations (103.3), while Current Assessment missed consensus at 114.

Still in the data space, Initial Claims, Durable Good Orders and Chairwoman J.Yellen’s speech are all due across the pond later.

EUR/USD levels to watch

As of writing the pair is advancing 0.15% at 1.1202 and a breakout of 1.1224 (high Sep.24) would aim for 1.1330 (high Sep.21) and then 1.1373 (high Sep.14). On the other hand, the next support aligns at 1.1163 (low Sep.24) ahead of 1.1105 (low Sep.23) and finally 1.1089 (low Sep.4).

Germany IFO - Expectations came in at 103.3, above forecasts (101.5) in September

Germany IFO - Expectations came in at 103.3, above forecasts (101.5) in September
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German IFO Business Climate index surprises on the upside in Sept

Business sentiment among German investors surprisingly improved in September, shrugging-off the sell-off in the Chinese and global stock markets. The result, however, did not reflect the latest turmoil caused by a false emission scam at the country's auto giant Volkswagen.
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