EUR/USD jumped almost 80 pips from the low of 1.17765 made yesterday. US Senate passed the major tax reform today but doesn’t have much impact on the price of US dollar. The pair jumped till 1.18580 at the time of writin…
EUR/USD jumped almost 80 pips from the low of 1.17765 made yesterday. US Senate passed the major tax reform today but doesn’t have much impact on the price of US dollar. The pair jumped till 1.18580 at the time of writing and is currently trading around 1.18431.
EURO jumped sharply on account of rise in 10 year German bund yield. The yield rose 7 pts yesterday from 0.30 to 0.37%.
Technically, the pair is facing strong resistance at 1.1860 (trend line joining 1.19612 and 1.19404) and any minor bullishness can be seen only above that level. Any convincing break above 1.1860 will take the pair to next level till 1.1900/19612 (Nov 27th 2017 high).
On the lower side, major support is around 1.1700 and any break below will drag the pair to next level till 1.1660/1.1600. The minor support is around 1.1755.
It is good to sell on rallies around 1.1880 with SL around 1.1940 for the TP of 1.1800/1.1700.
