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Major support - 1.15500 (trend line support)
EURUSD has pared some of its gains made yesterday on account of renewed trade war between US and Europe. The rumors that US president Donald Trump to impose 25% import duty on European cars despite on going trade negotiations with EU. The sligfht recovery in US dollar index was due to more hawkish comment from Dallas Fed President.
Markets eye US fed minutes meeting and jackson hole symposium for further direction.
On the higher side, near term resistance is around 1.1645 (55- day EMA) and any violation above targets 1.1700/1.17470/1.1790.
The near term support is around 1.1550 and any break below targets 1.14920. The pair should close below 1.1500 for further decline till 1.1450.
It is good to buy on dips around 1.1550-553 with SL around 1.1500 for the TP of 1.1645.
