The EURUSD is trying to test the upwards resistance on 1.2250 price as the from the last week the Euro is in a bull trend. EUR/USD is up to its highest levels since early January, threatening a firm break above the February high of 1.2243.
Today investors are going to be looking at the German ifo Business Climate at 22:00 which is a leading indicator of economic health – businesses react quickly to market conditions, and changes in their sentiment can be an early signal of future economic activity such as spending, hiring, and investment.
We remain bullish on the Euro and that will pave the way for a potential retest of the January highs above 1.2300 next.
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