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Major support - 1.0900 (trend line support)
EURUSD trades lower for past 1- week and hits a fresh 2-year low. The pair has broken major support at 1.09000 and declined till 1.08849 at the time of writing. It is currently trading around 1.08958.
With major data for the day markets eye US Chicago PMI for further direction. US 10-year bond yield is trading higher for the day and jumped more than 2%.
On the flip side, the is pair is trading slightly below major support at 1.09000 and this confirms bearish continuation and a dip till 1.0830/1.0800 possible.
The near term resistance is around 1.0970 and any break above targets 1.1000/1.1030.
It is good to sell on rallies around 1.0905-075 with SL around 1.0950 for the TP of 1.0800.
