Major support - 1.1300
EURUSD has recovered almost 150 pips from the low of 1.1300 on account of short covering and hopes of US-China trade talks. Markets eye Italy budget consolidating after hitting low of 1.13011. The pair recovered till 1.1449 and started to decline from the spending for further direction.Italy and German 10 year yield spread may widen if budget exceeds 3%.
The near term resistance is around 1.1447 (10 day MA) and any break above targets 1.1500/1.1560 (20- day MA).
The near term major support is around 1.1380 and any break below targets 1.13475/1.1300.
It is good to buy above 1.13950 with SL around 1.1350 for the TP of 1.1500.
