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Major support- 1.1100
Chart pattern- Bullish divergence
EURUSD has broken the level 1.11069 low made on May 23rd after ECB monetary policy. ECB has kept its rates unchanged and clearly stated that it is ready for further stimulus. The pair recovered more than 50 pips till 1.11752 and is currently trading around 1.11688.
On the higher side, near term resistance is around 1.11752 (23.6% fib) and any break above will take the pair to next level till 1.1200/1.12450 (21- day MA)/1.12860 (Jul 11th, 2018 high).
The major support is around 1.11000 and any violation confirms bearish continuation, a dip till 1.09097 (161.8% fib) is likely.
It is good to buy on dips around 1.11500 with SL around 1.1100 for the TP of 1.12860.
