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EURUSD is trading higher and has jumped more than 20 pips in European session. The pair hits intraday high of 1.13679 at the time of writing and is currently trading around 1.13650.Markets eye Fed Chairman Powell testimony to Senate on state of the U.S economy. It is currently trading around 1.1629.
The euro holding well above 1.1300 level as US President Trump has extended deadline for trade tariff as substantial progress in talks going on between US and China.
The near term resistance is around 1.1379 (300- 4H EMA) and any break above will take the pair to next level till 1.1400/1.1435/1.1500. Any convincing break above 1.1500 confirms bullish continuation.
On the lower side, near term support is around 1.13200 and any break below will drag the pair till 1.12670/1.12300. Any further weakness only below 1.12150.
It is good to buy on dips around 1.1345-480 with SL around 1.1300 for the TP of 1.1435
