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EUR/USD Outlook (26 October 2021)

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EUR/USD Outlook (26 October 2021)

ByJin Dao Tai

 OCT 26, 2021

EUR/USD Outlook (26 October 2021)

Overall, EUR/USD is trending downwards. Recently, EUR/USD broke the support zone of 1.16300.

The German ifo Business Climate data (Actual: 97.7Forecast: 98.2Previous: 98.9 revised from 98.8) released yesterday indicated that businesses are less optimistic on the current business conditions and expectations for the next 6 months.

Currently, EUR/USD is moving towards the resistance zone of 1.16300 and the next support zone is at 1.15000.

Look for short-term selling opportunities of EUR/USD if it bounces off the resistance zone of 1.16300.

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