EURUSD has halted its upside after a 100 pips jump on Friday. The pair was trading flat on renewed trade tension between US and China. The trade summit happened in Papua New Guinea has failed to reach agreement between US and China and widened the rift between them. It hits high of 1.14248 and is currently trading around 1.14225.
The upside will limited due on going trade war and Italy debt issues. Technically on the higher side, near term resistance is around 1.1430 (trend line resistance) and any violation above targets 1.1460/1.1500. Any further bullish continuation only above 1.1500.
On the lower side, near term support is around 1.13600 (7- day EMA) and any break below targets 1.13000/1.1200.
It is good to buy on dips around 1.1410-125 with SL around 1.1360 for the TP of 1.1500/1.1550.
