German Ifo Business Climate Index rises to 107.9 , EURUSD extends gains !

The German Ifo Business Climate Index has roses to 107.9 levels , above expectations 107.3 , This development should boost the EURUSD at least till US session .

Resistance comes at the 1.0970 levels , sustained breakout will aim the 1.1036 levels , further upside will target 1.1108 levels .

Support remains intact at the 1.0889 levels , ahead of 1.0766 (main) . In all , outlook in EURUSD remains on the upside towards the 1.0970/1.1036 levels the upcoming hours….

Now focus will be Core Durable Goods Orders (MoM) (Feb) at 12:30 GMT , Negative US data will extend gains beyond the 1.1036 levels while positive US data will bring a corrective pullback towards the 1.0766/1.0889 levels before the next rise !!!

 

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