FxWirePro- EURUSD Daily outlook

FxWirePro- EURUSD Daily outlook

Ichimoku analysis (4-hour chart)
              
 Tenken-Sen- 1.14758
 
 Kijun-Sen- 1.15223
 
EURUSD is holding below 1.14500 on board-based US dollar selling. The pair was one of the worst performers this week and lost more than 150 pips after upbeat US inflation data.  The chance of rate hikes by the Fed and pullback in US treasury yields are supporting the US dollar at lower levels. Markets eye US consumer sentiment index for further direction. EURUSD hits an intraday low of 1.14382 and is currently trading around 1.14387.
 
Technical:
On the higher side, near-term resistance is around 1.1500 and any convincing breach above will drag the pair to the next level 1.1525/1.15500/1.16000. The pair's immediate support is at 1.1430 breaking below targets of 1.13800/1.1350.
 
Indicator (4-hour chart)
 
Directional movement index – Bearish
 
It is good to sell on rallies around 1.1478-80 with SL around 1.1525 for a TP of 1.1360.