FxWirePro: EUR/USD trades higher on easing Spain political uncertainty, good to buy on dips
EUR/USD hits two week high on slightly dovish Fed minutes meeting and easing geopolitical tensions in Spain. The pair jumped till 1.18799 and is currently trading around 1.18605. US Fed minutes meeting shows that Dec rat…
EUR/USD hits two week high on slightly dovish Fed minutes meeting and easing geopolitical tensions in Spain. The pair jumped till 1.18799 and is currently trading around 1.18605.
US Fed minutes meeting shows that Dec rate hike is intact and members are worried about low inflation. Meanwhile easing Spanish political uncertainty has boosted Euro further. Market awaits ECB president Draghi speech for further bullish continuation.
On the higher side, near term resistance is around 1.1900 and any break above will take the pair to next level till 1.19280 (61.8% retracement of 1.20925 and 1.16621)/1.2000.
The near term support is around 1.1825 (55- H EMA) and any break below will drag the pair down till 1.1800/1.1760 (233- H MA). Bearish invalidation only below 1.1660.
It is good to buy on dips around 1.1840-45 with SL around 1.1800 for the TP of 1.1900/1.19280
