EURUSD hits a high of 1.12860 and shown a minor decline from that level. ECB has signaled in June meeting that it is planning to inject more stimulus into Eurozone by a rate cut. The ECB meeting minutes shows that the governing council to be ready and prepares to ease monetary policy in the future. US CPI came at the highest level in 1-1/2 years and the US 10 year jumped more than 3.5% for the day.
On the higher side, any convincing break above 1.12850 (21- day MA) confirms further bullishness and a jump till 1.13233/1.13450 is possible.
The near term support is 1.12500 and any break below will drag the pair down till 1.1200/1.11800.
Key levels
Resistance
1.14122 (25 Jun 2019 high)
1.14485 (Mar 20th 2019 )
1.15140 (Jan 31st 2019)
