EURUSD added 20 pips on the news rebounding from the daily low around 1.1135 as ECB Keeps rates unchanged. After the initial positive reaction the pair dive to fresh daily low at 1.1116. On the downside there is one strong support left at 1.1106 the yearly low, which if breached the selloff can accelerate down to 1.10. On the upside immediate resistance stands at 1.1160 the daily high while more offers will emerge at 1.1309 the 20 hour moving average.
EURGBP also hit the daily low after the news at 0.8890. EURJPY trading close to daily low at 120.17 as the euro weakness spreads across the board.
Earlier today a big disappointment came from the Germany IFO Business Climate which came in at 95.7 below expectations of 97.1 in July, the IFO Current Assessment came in at 99.4 also below expectations of 100.4 in July. The IFO – Expectations came in at 92.2, below expectations of 94 in July.Don’t miss a beat! Follow us on Twitter.