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- Major intraday support – 1.0560
- Major resistance- 1.06855 (Nov 28th 2016 high)
- EUR/USD edged lower yesterday after OPEC agreed to cut oil production to 32.5 million barrels per day from the previous 33.7 million barrels per day.
- The pair declined till 1.05527 and recovered sharply from that level. It is currently trading slightly above 1.060 level at 1.06195.
- The intraday trend is slightly bullish as long as 1.05600 holds.
- On the higher side, the major resistance is around 1.0685 and any violation above will take the pair to next level till 1.0755/1.08150.
- Indicators (15 min)
CCI (50) – Buy
CCI (14)- Buy
ADX- Strength upward
It is good to buy on dips around 1.0610-15 with SL around 1.0560 for the TP of 1.6080/1.07530.
