FxWirePro: EUR/USD trades higher on hawkish ECB, good to buy on dips
EUR/USD has shown a good upside in the European session and has broken major resistance 1.20920 high made on Sep 8th 2017 on account of Hawkish ECB minutes and German political break through. The pair jumped till 1.21270…
EUR/USD has shown a good upside in the European session and has broken major resistance 1.20920 high made on Sep 8th 2017 on account of Hawkish ECB minutes and German political break through. The pair jumped till 1.21270 at the time of writing. It is currently trading around 1.2125.
Euro surged yesterday sharply after ECB minutes signaled that central bank may end its asset purchase program (AAP) earlier than expected. Market eyes US CPI and data to be released today for further direction.
Technically, near term is around 1.2140 and any break below will drag the pair down till 1.2195 (61.8% fib)/1.225.
On the lower side, near term support is around 1.2080 (23.6% fibo) and any break above will take the pair till 1.200/1.1925 (20- day MA).
It is good to buy on dips around 1.2075-80 with SL around 1.2000 for the TP of 1.2198/1.2250.
