EURUSD is consolidating after a nice pullback of more than 100 pips. It hits a high of 1.11891 yesterday and is currently trading around 1.11711.
The policy divergence between US Fed and ECB supports the pair at lower levels.
Markets eye ECB President Lagarde and FOMC member Harker's speech for further direction.
The pair trades above short-term (34 AND 55 EMA) in 4-hour chart. Major resistance to watch- 1.1190/1.12050. Bullish continuation only above 1.1280.
Major support- 1.1140,1.1100,1.1060/1.100/1.09880.
Indicators ( 4- hour chart)
Directional movement index -Bullish
CCI (50)- Bullish
CCI(14)- Bullish
It is good to buy on dips around 1.1145-48 with SL around 1.10960 for a TP of 1.1275.
