Ichimoku analysis (1-Hour chart)
Tenken-Sen- 1.21763
Kijun-Sen- 1.21810
EURUSD has once again lost after a minor pullback above 1.2200. The weaker than expected German ZEW sentiment index is putting pressure on Euro at higher levels. It came at 79.8 in June compared to a forecast of 86. The ZEW current situation for Germany recovered to -9.1 June vs -40.1 in May. US JOLTS job opening surged to 9.29M fr0om previous month 8.29M. DXY is consolidating in a narrow range between 89.66 and 90.62 for the past five days. The US 10-year yield has halted its one-week bearish trend and recovered more than 1.513%. EURUSD hits an intraday high of 1.21884 and is currently trading around 1.21808.
Technical:
On the higher side, near-term resistance is around 1.2220, and any convincing breach above will take the pair to next level 1.2260/1.2300/1.23485. The pair's near-term support is around 1.2100, violation below that level targets 1.20380 (100- day MA)/1.1980.
Indicator (1-hour chart)
RSI- Neutral
Directional movement index –Neutral
It is good to buy on dips around 1.2150 with SL around 1.2100 for the TP of 1.2260.
