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EURUSD is trading lower for past 4 days and lost more than 70 pips from high of 1.12240 high made on May 16th 2019. The decline was mainly due to ongoing US-Sino trade tensions. Google suspended its operations with Chinese telecom giant Huawei after US President blacklists Huawei. It hits low of 1.11506 and is currently trading around 1.11657.
In Italy’s election Populist leader Matteo Salvin led a rally in Italy ahead of EU elections and Euro will decline further if there is rise of populism.
On the higher side, near term resistance is around 1.11750 and any violation above will take the pair to next level till 1.11240. Any minor bullishness only above 1.12240. Major jump only above 1.12650.
The near term support is around 1.1150 and any violation below targets 1.1100/1.1070.
It is good to buy above 1.11750 with SL around 1.1150 for the TP of 1.12650.
