The ongoing price uncertainty in the EUR/USD pair has not defined the exact destination of the pair price.  Today, it again inched a lower price with the amount of less than 1.1800.

Today’s price drop could be due to the business climate news, according to the CESifo Group, which showed decreased data for September with 98.8 indexes, compared to the month before the index of 99.4.

The German Business Sentiment Index has carefully monitored the current conditions and company prospects in Germany. The institute examined over 7,000 businesses about their market situation assessment and short-term strategy. Significant economic growth is bullish for the EUR, while a low reading is negative (or bearish).

The EUR/USD pair is currently trading around 1.1728, with various levels of backend support holding the price steady and preventing it from falling any further.

On September 23, 2021, the US Census Bureau will release data on durable goods order. According to economists’ prediction, it might register a reading of 0.6% in August compared to the month before reading.

Durable Products Orders gauge the cost of orders received by manufacturers for durable goods, such as automobiles and appliances, that last three years or longer. Because durable goods often entail considerable investments, they are affected by the state of the US economy. The final graph depicts the current state of production in the United States. In general, a high reading for the USD is optimistic.

Conclusion

Buying the EUR/USD currency pair near current levels could yield several short-term profits.