- EUR/USD has shown minor recovery after forming a bottom at 1.15716. The pair upside is capped due to weaker than expected preliminary inflation number. The Eurozone GDP rose 0.6% in the third quarter from previous one and unemployment rate falls below 9% for the first time since 2009. The pair jumped till 1.16612 and currently trading around 1.16390.
- In the US session, US ISM manufacturing and ADP employment data to be released today.
- On the lower side, the near term support is around 1.15450 (161.8% retracement of 1.16691 and 1.1880) and any convincing break below will drag the pair down till 1.1500/1.1400.
- On the higher side, near term resistance is around 1.1685 and any break above will take the pair to next level till 1.1720 /1.1755 (20- day MA). Minor bullishness only above 1.18800.
It is good to sell on rallies around 1.1685-1.1690 with SL around 1.1755 for the TP of 1.1500/1.1400.
