Major resistance – 1.11240 (7- day MA)
EURUSD has halted its sharp sell-off happened after Fed monetary policy. The slight weakness in US economic data is putting pressure on US dollar. US ISM manufacturing data came in at 51.2 from 51.7 in June compared to a forecast of 51.9 lowest reading since Aug 2016. It hits high of 1.11150 and is currently trading around 1.11011.
US economy is expected to add 170k jobs in Jul compared to 224k and average wages to grow at 0.2%.
On the higher side, near term resistance is around 1.11240 and any violation above targets 1.11621/1.11880 (61.8% fib).
The major support is around 1.000 and any major weakness only below that level. The minor support is around 1.10606/1.1025.
It is good to sell on rallies around 1.11250-30 with SL around 1.11750 for the TP of 1.0950.
