EURUSD has shown a minor recovery of almost 80 pips from the low of 1.1530 lev el.The recovery is short lived and started to decline after a minor jump above 1.1600. The major reason for broad based buying in USD was due to sell-off in EM currencies especially in South African Rand hits 2 year high at 15.69 as South African GDP came at weaker than expected. The escalating trade tensions between US and major countries like China and Canada.
US ISM manufacturing index released yesterday came at 61.2 for the month of Aug fastest pace in 14 years.
On the lower side, major support is around 1.1540 (20- day MA) and any violation below targets 1.1500/1.14656. Any convincing close below 1.1500 confirms further weakness.
The near term resistance is around 1.1630 and any break above targets 1.1660/1.1700/1.17500.
It is good to sell on rallies around 1.1600-025 with SL around 1.1660 for the TP of 1.1500/1.1465.


FxWirePro: USD/JPY dips as market assess risk of additional FX intervention.
Chart of the Day: BTC Double Bottom Ignites — Buy Above $64,050 for $67K–$70K Blast-Off
Forex Scorecard: EUR/USD, GBP/USD, and NZD/USD Stand Out as Prime Bullish Opportunities
FxWirePro: NZD/USD turns lower as USD regains footing
FxWirePro- Major Pair levels and bias summary
FxWirePro: GBP/USD slips as dollar rebounds from six-week low
AUDJPY Bears Tighten Grip: Sell Rallies at 110.65-67 Targeting 107.75 as All EMAs Stay Red
NZDJPY Bears Stay in Command: Sell Rallies at 92.72-75 Targeting 90 as All EMAs Flash Red
DAX & CAC40 Score Perfect 100 Trend, FTSE100 Lags at 85 – Key Levels to Watch on the Perfect Scorers
FxWirePro: USD/CNY edges higher, outlook bearish
FxWirePro: GBP/NZD downside pressure builds, key support level in focus
FxWirePro: USD/CAD retreats after Canada posts stronger-than-expected GDP growth
FxWirePro: EUR/ AUD dips below 1.6400 level, focus on near term support
All Major JPY Pairs Hit Extreme Bearish Score of -100: USDJPY, EURJPY, GBPJPY, AUDJPY, NZDJPY & CADJPY Flash Maximum Weakness
EUR/JPY Under Pressure: Broad Yen Buying Keeps Bears in Control Below 183.00
FxWirePro: USD/ZAR gains as weak SA Manufacturing data hits rand 



