Major support- 1.09890
EURUSD trades slightly below 1.1000 despite a good jump in Eurozone CPI. Core CPI came at 1.3% vs forecast of 1.2% and inflation at 1% vs 0.8%. The pair hits an intraday low of 1.09935 and is currently trading around 1.09965.
US 10-year yield continues to trade lower for 3rd consecutive week and spread between 10, 2-year yield has narrowed to 13.8 bps from 27 bps.
Technically near term major resistance is around 1.1050, violation past will take the pair to next level till 1.1100. Major bullish continuation only beyond 1.1180.
On the flip side, minor support is around 1.10989 and any indicative break beneath will drag the pair till 1.095/1.0880. Major bearishness only below 1.0880 level.
It is good to sell on rallies around 1.1000 with SL around 1.1030 for the TP of 1.0935/1.0880.
