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- EUR/USD pared its loss made yesterday and shown a minor jump of 63 pips after US President Trump announced new tariffs targeting China. The pair jumped till 1.23486 and is currently trading around 1.23393.
- The pair has showing a good buying interest at lower levels due to US-China trade war. Trump is targeting to impose tariffs on USD 50b worth of goods from China.
- The pair is facing near term resistance of 1.2360 and break above will take the pair till 1.24000/1.24450. Bullish continuation can be seen above 1.2550.
- On the lower side, near term support is around 1.2260 and any violation below will drag the pair to next level till 1.2200/1.2165
It is good to buy on dips around 1.2280-85 with SL around 1.2240 for the TP of 1.2360/1.2400.
