Major Resistance- 1.1500
EUR/USD is holding higher above 1.1450 level on increasing optimism of US and China trade progress.US President Trump is interested in reaching a deal is also supporting Euro prices. The slightly dovish Fed and broad based US dollar selling is also reason putting pressure on US dollar.
The pair is facing strong resistance at 100- day MA and failed to close above that level for past four times. Any daily close above 100-day MA will take the pair to next level 1.15900 (
61.8% fib)/1.16200/1.1700.
On the lower side, near term support is around 1.14080 (55- day EMA) and any break below targets 1.13500/1.1300.
It is good to buy on dips around 1.14000 with SL around 1.1345 for the TP of 1.1500/1.15900.
