EURUSD trading higher for the past 4 days and hits 2-week high amid coronavirus. The coronavirus has spread to all countries especially South Korea, Italy is the worst-hit next to China. It hits a high of 1.09461 at the time of writing and is currently trading around 1.09443.
US 10 –year yield reached record low as demand for Safe-haven assets like a bond, the yen increased due to the outbreak of the virus. The spread between US10-year and 3- month inverted once again.
Technically, immediate resistance is around 1.09483 (200-4H EMA) and any violation above will take the pair to the next level till 1.09785/1.1000.
On the flip side, significant support is around 1.0900, break beneath will drag the pair down till 1.0880/1.08570/1.08335.
It is good to buy on dips around 1.09250-280 with SL around 1.0900 for the TP of 1.09785/1.100.
