AceTraderFx Feb 24: Intra-Day News and Views & data to be released today -EUR/USD
Intra-Day Market Moving News and Views
Update Time: 24 Feb 2020 04:30GMT
EUR/USD - 1.0828… The single currency opened lower on risk-aversion and dropped to 1.0811 in New Zealand after Friday’s resumption of upmove from last week’s near 3-year trough at 1.0778 to 1.0863. However, the pair found renewed buying there and rebounded to 1.0842 at Asian open before retreating again.
Despite euro’s intra-day gap-down open to 1.0811, subsequent rebound suggests the pullback from Friday’s high at 1.0863 is over and consolidation with upside bias remains for a re-test of said resistance, break would extend recent upmove to 1.0900/10.
However, offers at 1.0920/30 should cap current rise and yield retreat later.
Pay attention to the release of Germany Ifo business climate, current conditions and expectations at 09:00GMT. Street forecasts are 95.1, 98.6 and 92.1 vs previous readings of 95.9, 99.1 and 92.9 respectively.
Elsewhere, ECB Executive Board member Philip Lane will speak at 17:00GMT at the Booth Policy forum in New York.