EUR/USD upside capped by 38.2% retracement, break above targets 1.1235/1.1265

• The pair has jumped till 1.11837 yesterday and slightly declined from that level. It is currently trading around 1.11964.
   
• EUR/USD should break above 1.11850 (38.2% retracement of 1.16163 and 1.09115) and any break above will take the pair to next level till 1.1236 (38.2% retracement of 1.0463 and 1.1714)/1.12650 (50% retracement of 1.14213 and 1.09115)/1.1300.
   
• On the lower side, minor support is around 1.11550 (90 day EMA) and any6 break below targets 1.1100/1.0740 (200 day MA).It should close below 200 day MA for further weakness.

It is good to buy on dips around 1.1180-825 with SL around 1.1150 for the TP of 1.1235/1.2650.