FxWirePro: EUR/USD faces strong support at 21- day EMA, good to buy on dips
EURUSD declined sharply below 1.1900 after hitting 27 month high at 1.20704 level. USD got strengthened slightly after better than expected US ADP data. US economy has added 327K private jobs compared to forecast of 185K…
EURUSD declined sharply below 1.1900 after hitting 27 month high at 1.20704 level. USD got strengthened slightly after better than expected US ADP data. US economy has added 327K private jobs compared to forecast of 185K.
The pair broken the yesterday low of 1.18808 and dipped till 1.18450 at the time of writing. The near term intraday support is around 1.18400 (10- day MA) and any break below will drag the pair down till 1.1800 (21- day EMA)/1.1775.
On the higher side, 1.1912 (hourly Kijun-Sen) will be acting as near term intraday resistance and any break above will take the pair till 1.1934/1.2000/1.2070 (161.8% retracement).
It is good to buy on dips around 1.1840-1.1845 with SL around 1.1798 for the TP of 1.1920/1.1950.
