- EUR/USD is trading down after a mild recovery till 1.23925 level. The pair broken minor support 1.2355 (233- H MA) and declined till 1.23399 at the time of writing. It is currently trading around 1.23418.
- The economic data released such as GSP and inflation came in line with estimate. Market awaits US CPI and retail sales data to be released today for further direction.
- The pair is facing near term resistance of 1.2400 and any close above will take the pair till 1.2435/1.2500. Bullish continuation can be seen only above 1.2540.
- On the lower side, near term support is around 1.2295 (100- H MA) and any violation below will drag the pair to next level till 1.2200/1.21650 (38.2% fibo)/1.2100. Minor trend reversal only below 1.2100.
It is good to buy on dips around 1.2300 with SL around 1.2250 for the TP of 1.2400/1.2435/1.2500.
