EUR/USD is trading flat after hitting high of 1.17499 on Monday. It has pared some of the gain made yesterday on expectations of better than expected US GDP. German IFO business climate data released today came at 101.70…
EUR/USD is trading flat after hitting high of 1.17499 on Monday. It has pared some of the gain made yesterday on expectations of better than expected US GDP. German IFO business climate data released today came at 101.70 in July compared to 101.80 previous month but slightly better thane forecast of 101.50. Markets eye meeting of Donald Trump and Juncker for further direction.
EUR/USD’s near term support is around 1.1680 and any convincing break below will drag the pair to next level till 1.1650/1.1500.Any break below 1.1500 confirms minor weakness and decline till 1.1400/1.13600 is likely.
On the higher side, near term resistance is around 1.1760 (55- day EMA) and any break above will take the pair to next level till 1.1800/1.18515.
It is good to sell on rallies around 1.1745-50 with SL around 1.1800 for the TP of 1.1500.
