EURUSD has formed a bottom around 1.16886 on Aug 9th 2017 and showing a minor recovery from that level. EURO jumped till 1.17887 after weaker than expected U.S PPI data. U.S PPI data came at -0.1% for the month of Jul bi…
EURUSD has formed a bottom around 1.16886 on Aug 9th 2017 and showing a minor recovery from that level. EURO jumped till 1.17887 after weaker than expected U.S PPI data.
U.S PPI data came at -0.1% for the month of Jul biggest drop since Aug 2016. Markets await US CPI data which is to be released today for further direction. Any weakness in CPI will drag the U.S dollar further down.
Technically, upside is capped by 200- H MA at 1.1800 and any break above will take the pair till 1.18320/1.1860/1.1900.
On the lower side, trend line support is around 1.1700 and any break below will drag the pair down till 1.16500/1.15984 (23.6% fibo).
It is good to sell on rallies around 1.1775-1.1780 with SL around 1.18320 for the TP of 1.16880/1.1650.
