Major support - 1.1530 (20- day MA)
EURUSD has pared some of its losses made in Asain session ahead of jacksonhole symposium. US fed chairman Powell is expected to ignore Trump’s view on rate hike and to continue with current policy. Trade talks between US and China concluded without any major developments. The news is that US is planning to impose further trade tariffs of $200bln on Chinese goods. EURUSD lost more than 90 pips after hitting high of 1.16228. it is currently trading around 1.15809.
On the higher side, near term resistance is around 1.1645 (55- day EMA) and any violation above targets 1.1700/1.17470/1.1790.
The near term support is around 1.1530 (20- day MA) and any break below targets 1.14920. The pair should close below 1.1500 for further decline till 1.1450.
It is good to sell on rallies around 1.1595-600 with SL around 1.1650 for the TP of 1.1500.
