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- Major resistance – 1.1700
- EUR/USD has shown a minor recovery till 1.06800 after US Senate confirmed slight delay in tax reform. The pair declined from the high. ECB vice president Constancio is scheduled to speak later on Monday. It is currently trading around 1.1650.
- The greenback was shown a minor jump after US 10 year yield shown a 6 basis point jump to 2.4%. Market awaits tax debate for further direction.
- The low made after Nonfarm payroll will be acting as near term support 1.1550 and any break below will drag the pair too next level till 1.1500/1.1460/1.1430.
- On the higher side, minor bullishness can be seen above 1.16700 (100- 4H MA) and any break above will take the pair to next level till 1.170/1.1720/1.1755.
It is good to sell on rallies around 1.1660-65 with SL around 1.1720 for the TP of 1.15700/1.1550.
