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EUR/USD may slide further of IFO numbers

FXStreet (Moscow) - EUR/USD slowly retreats from Asian high at 1.2857, reaching 1.2845 area, as of writing.

IFO in focus

The released yesterday PMI data out of the euro zone painted mixed picture, and had little effect on the pair. However, the scheduled for today IFO report may still attract market attention, as the expectations index keeps sliding from April, and keeps missing the expectations from May. New evidence the business expects hard times ahead may pressure the euro again. The initial target to the downside may be found in this case at 1.2826 support.

What are today’s key EUR/USD levels?

Today's central pivot point can be found at 1.2864, with support below at 1.2826, 1.2805, and 1.2767, with resistance above at 1.2885, 1.2923 and 1.2944. Hourly Moving Averages are bearish, with the 200SMA bearish at 1.2904 and the daily 20EMA bearish at 1.2985. Hourly RSI is bearish at 43.

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