EUR/USD has declined almost more than 100 pips yesterday and shown a minor jump from that level . The Euro Zone GDP came at 0.4% QOQ as expected but slightly slower than growth rate of 0.7% in the previous month. Market …
EUR/USD has declined almost more than 100 pips yesterday and shown a minor jump from that level . The Euro Zone GDP came at 0.4% QOQ as expected but slightly slower than growth rate of 0.7% in the previous month. Market eyes US ADP employment data shows that US economy has added 204k private jobs for the month of Apr compared to forecast of 200K.
The pair is facing major near term support is around 1.2010 (200- day MA) and close below will drag the pair down till 1.1945/1.1900.
On the higher side, near term resistance is around 1.2045 (55- H EMA) and any convincing break above will take the pair to next level till 1.208 (100- H MA)/1.2155.Minor bullishness can seen only 1.2150.
It is good to sell on rallies around 1.2075-80 with SL around 1.215 for the TP of 1.1945/1.1900.
