EUR/USD is trading flat for second consecutive day after a minor jump till 1.14184 on Tuesday.The major positive things which is supporting Euro are declining US 10 year bond yield and reduction in the spread between German and Italy’s yield. The US 2 year yield has surpassed US 5 year for the first in 10 years. Markets eye US Non Farm Payroll data which is to be released tomorrow for further direction.
On the higher side, near term resistance is around 1.13600 level and any violation above targets 1.1402/1.1435/1.1475. The pair should break above 1.1500 for further direction.
The near term support is around 1.1300 and any break below targets 1.1200. Any violation below 1.1200 confirms bearish continuation.
It is good to buy on dips around 1.13200 with SL around 1.12600 for the TP of 1.1475/1.1500.
