EUR/USD has recovered nearly 93 pips from the low of 1.22057 made yesterday. The pair jumps from the fresh 2- week low as global market tension eases and minor selling in US 10 year bond yields. The pair hits intraday hi…
EUR/USD has recovered nearly 93 pips from the low of 1.22057 made yesterday. The pair jumps from the fresh 2- week low as global market tension eases and minor selling in US 10 year bond yields. The pair hits intraday high of 1.22968. It is currently trading around 1.22720.
S&P500 recovered almost 3.75% yesterday and closed at 2581 yesterday. The near term support is around 2530 and any break below confirms further weakness.
The pair is facing near term resistance of 1.2328 (20- day MA) and any close above will take the pair till 1.2400/1.24350. Bullish continuation can be seen only above 1.2540.
On the lower side, near term support is around 1.2200 and any violation below will drag the pair to next level till 1.21650 (38.2% fibo)/1.2100. Minor trend reversal only below 1.2100.
It is good to buy above 1.2300 with SL around 1.2250 for the TP of 1.2400/1.2435.
