- EUR/USD has formed a minor top around 1.14886 on Jul 12th 2017 and declining for the past two days. The pair hits low of 1.13700 and recovering slightly from that level on rumors that ECB might taper the bond buying program in the coming months.
- US Fed Chairman has told a slight dovish statement in the testimony yesterday and market awaits U.S CPI data for further direction.
- Technically, the pair is facing strong support at 1.13500 and any minor weakness can be seen only below that level. Any break below 1.13500 will drag the pair till 1.12900. It should close below 1.12900 for major trend reversal.
- On the higher side, minor near term resistance is around 1.1450 and any break above will take the pair till 1.1500/1.15600.
It is good to buy on dips around 1.1395-1.1400 with SL around 1.1350 for the TP of 1.1500/1.1560.
