FxWirePro: EUR/USD trades higher on easing Italian debt issue, good to buy on dips
EURUSD is trading steadily after a minor dip till 1.6138 on lightly easing Italian debt issues.Italian 10 year bond yields has declined more than 10% from the high of 3.26% after remarks ministers shows that 2019 would r…
EURUSD is trading steadily after a minor dip till 1.6138 on lightly easing Italian debt issues.Italian 10 year bond yields has declined more than 10% from the high of 3.26% after remarks ministers shows that 2019 would remain within European Union rules. The spread between German 10 year bund and Italian 10 year has decreased.
Markets eye US ADP employment and ISM services data which is to be released today for further direction.
On the lower side, near term intra day support is around 1.1600 and any break below targets 1.1579/1.1530. It should break below 1.1500 for further bearishness.
The near term resistance is around 1.1660 and any violation above targets 1.17200/1.174500.
It is good to buy on dips around 1.1615-18 with SL around 1.1570 for the TP of 1.1715/1.17400.
