The German Ifo Business Climate Index rates the current German business climate and measures expectations for the next six months. It is a composite index based on a survey of manufacturers, builders, wholesalers and retailers. The index is compiled by the Ifo Institute for Economic Research.
The German Ifo Business Climate Index fell 107.4 , from 108.5 in the previous month, German Ifo Business Climate Index was expected to fall 108.1 last month.
Market Impact : This development is likely to keep the pair under pressure, any rebound should be limited by resistance levels …Conclusion : sell the pair at rebound !
Intraday Support : 1.1140 , 1.1070, 1.1025
Intraday Resistance: 1.1205 , 1.1245 , 1.1340