EUR/USD has pared some of its gains made yesterday on account of broad based buying in USD and better than expected US economic data. US conference board consumer confidence increased in Aug to 133.4 from 127.9 in July highest level in 1 years. US-Mexico trade deal has already priced in and markets eye US second estimate of Q2 GDP data for for further direction. The first estimate came at 4.1% annualized fastest in four years.
The near term support is around 1.1660 and any break below targets 1.16300 (23.6% fib)/1.1600/1.1566 (200 -H MA).
On the higher side, major resistance is around 1.1750 and any violation above targets 1.1800/1.1855.
It is good to sell on rallies around 1.17025-50 with SL around 1.1755 for the TP of 1.1600/1.1560.
