- EURUSD hits 2 year high yesterday after positive comments from Draghi in ECB monetary policy meeting. ECB is preparing to withdraw stimulus down the road. Dollar is broadly lower after market is losing hope on trump.
- The pair broken the major resistance 1.16586 high made on Jul 20th 2017 and jumped 1.16840 at the time of writing. It is currently trading around 1.16529.
- On the lower side, near term support stands around 1.15930 (23.6% retracement of 1.13123 and 1.16840 and any break below will drag the pair down till 1.1565 (5- day MA)/1.1527 (daily Tenken-Sen). Any minor weakness can be seen only below 1.1480 (yesterday low).
- The near term resistance is around 1.17140 and break above will take the pair till 1.17420 (38.2 % retracement of 1.7420 (38.2% fibo)/1.1800.
It is good to buy on dips around 1.1600 with SL around 1.1530 for the TP of 1.17140/1.17430
Resistance
R1-1.1740
R2 -1.1750
R3- 1.1800
Support
S1-1.6000
S2-1.15280
S3-1.1480
