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- EUR/USD recovered from 7- week low amid Trump’s announcement of import tariff. US Donald Trump announce steel products will be charged 25% while for aluminum 10%. The pair hits intraday high of 1.22878 and is currently trading around 1.22815.
- US ISM manufacturing data rose to 60.8 in Feb up from 59.1 reading recorded the month before and also above expectations of 58.1.
- The pair is facing near term resistance of 1.2300 (200- H MA) and break above will take the pair till 1.2355/ 1.2400/1.2435. Bullish continuation can be seen above 1.2550.
- On the lower side, near term support is around 1.2150 and any violation below will drag the pair to next level till 1.20900/1.2055.
It is good to buy on dips around 1.2250 with SL around 1.2200 for the TP of 1.2345/1.2400.
