FxWirePro: EUR/USD recovers slightly on mixed EU PMI, markets eye ECB minutes

Major support - 1.1535 (20- dayMA)

EURUSD has pared some of its losses made in European session. The pair has recovered more than 40 pips from the low 1.15425. Earlier EURUSD lost some of its value after hitting high of 1.16228 after more hawkish statement by fed. US import tariff on $16bn on China has started today. Eurozone PMI data released today was slightly mixed with services PMI came better than expected compared to manufacturing PMI.

Markets eye US ECB minutes 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 1.1538 (20- day MA) 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 1.1575-78 with SL around 1.1535 for the TP of 1.1645.