EURUSD trades higher yesterday and hits 6- week high around 1.11448 at the time of writing. US dollar index dived sharply after the policy statement shows the Fed will keep rates on hold till 2022. The pair has halted its uptrend and markets eye ECB President first meeting, UK election for further direction. It is currently trading around 1.11261.
Technically, near term support is around 1.11050 (23.6% fib) and any violation below will drag the pair down till 1.10790 (200-H EMA). Any major intraday weakness can be seen only if the pair closes below 1.10790, a dip till 1.10350 likely.
On the higher side, major resistance is around 1.1180 and the violation above will take the EURUSD till 1.1250/1.12880.
It is good to buy on dips around 1.1100 with SL around 1.1060 for the TP of 1.1245.
