FxWirePro: EUR/USD faces strong resistance at 200- H MA, good to buy on dips
EUR/USD has shown a good jump on Friday paring loss made in previous week. The slight weaker than expected US Nonfarm payroll data pushed the Euro prices higher. US economy has added 103k jobs in Mar compared to 193k. US…
EUR/USD has shown a good jump on Friday paring loss made in previous week. The slight weaker than expected US Nonfarm payroll data pushed the Euro prices higher. US economy has added 103k jobs in Mar compared to 193k. US wage growth shows a minor recovery from 0.1% to 0.3%. The pair jumped almost 80 pips from Friday’s low. It is currently trading around 1.22711.
The pair is facing minor near term support is around 1.2260 and any break below will drag the pair down till 1.2200/1.2165. Overall bearish continuation below 1.2165.
On the higher side, near term resistance is around 1.2260 and any hourly close above will take the pair to next level till 1.2345/1.2380/1.2435.Major bullishness only above 1.2550.
It is good to buy on dips around 1.2255-60 with SL around 1.2200 for the TP of 1.2345.
