Forex: EUR/USD keeps the mood after IFO

Not much of a reaction in the bloc currency after the improvement of the German IFO series for the month of February from January print, as the Expectations advanced to 104.6 from 100.6, Current Conditions 110.2 vs. 108.1 and Business Climate 107.4 against 104.3. It’s worth noting that all of the components have exceeded previous estimates.

In addition, inflation figures in Italy rose in line with consensus during January: CPI 0.2% MoM and 2.2% YoY.

At the moment, the pair is up 0.32% at 1.3233 with the next hurdle at 1.3289 (MA55d) followed by 1.3343 (MA10d) and then 1.3429 (MA21d).
On the upside, a dip below 1.3163 (low Feb.21) would bring 1.3121 (MA100d) and finally 1.3039 (low Jan.10).