EUR/USD muted on upbeat IFO, Fedspeak eyed

The common currency remained apathetic after the release of the German IFO, with EUR/USD hovering over the 1.1150 area.

EUR/USD keeps gains around 1.1150

The pair has barely reacted to the better-than-estimated German IFO today, where Business Climate, Current Assessment and Expectations have all surprised to the upside for the current month. The data add to the earlier improvement in the German Consumer Climate (9.8 act. vs. 9.7 exp.).

With the greenback slightly in the red territory so far today, spot remain in the area of 2-month lows ahead of speeches by FOMC’s Harker, Kashkari and Kaplan, due later in the NA session.

EUR/USD levels to watch

The pair is now advancing 0.08% at 1.1150 and a break below 1.1133 (low May 24) would target 1.1103 (200-day sma) en route to 1.1055 (low Mar.16). On the other hand, the initial hurdle aligns at 1.1246 (high May 23) followed by 1.1304 (55-day sma) and finally 1.1332 (20-day sma).