FxWirePro: EUR/USD shows bullish break out above 1.1300, jump till 1.1430 likely
EUR/USD has broken major resistance of 1.1300 after two weeks consolidation. The pair jumped sharply till 1.13866 at the time of writing on account of positive comments for ECB President Draghi on Eurozone economy and in…
EUR/USD has broken major resistance of 1.1300 after two weeks consolidation. The pair jumped sharply till 1.13866 at the time of writing on account of positive comments for ECB President Draghi on Eurozone economy and inflation. U.S dollar was further pressurized by delay in health care vote in Senate.
The pair shown a minor dip till 1.13535 and is currently trading around 1.13658.
On the lower side, near term support stands at 1.1320 (23.6% retracement of 1.11191 and 1.13882) and any break below will drag the pair down till 1.1285 (Hourly Kijun-Sen)/1.1250 (23.6% retracement of 1.0840 and 1.13880).
The near term resistance is around 1.1400 and any break above will take the pair till 1.14279 /1.1478 (88.6% retracement of 1.16163 and 1.0340)/1.3550.
It is good to buy on dip around 1.13650 with SL around 1.1300 for the TP of 1.1470/1.1500.
