EURUSD declined sharply after a jump above 1.1200. It hit a low of 1.1120 yesterday and is currently trading around 1.11535.
Intraday bias remains bullish as long as support 1.1120 holds.
Technicals-
The pair is trading above 34- and 55 EMA in the 4-hour chart.
The near-term resistance is around 1.1160, a breach above targets 1.11780/1.12150 Major bullish continuation only above 1.12150. A jump above will take the pair to 1.12780.The immediate support is at 1.1140 any violation below will drag the pair to 1.1120/1.1060.
Indicator (15 min chart)
CCI (50)- Bullish
Average directional movement Index - Bullish. All indicators confirm a mixed trend.
It is good to buy on dips around 1.11500 with SL around 1.1120 for a TP of 1.1.
