EURUSD recovered slightly more than 40 pips after hitting a low of 1.11294. US housing data came better than expected with building permits rose 1.4% m/m at 1.4.482m in Nov vs forecast of 1.410m, housing starts at 1.365m vs 1.340m. The positive developments in the US and China trade talks are supporting euro prices at lower levels. The dollar index rebounded from a low of 96.59 and hits high of 97.30.
Technically, support is around 1.110 and violation underneath will drag down to 1.10680. The intraday weakness can be seen only if the pair closes below 1.10680, a dip till 1.10350 likely.
On the higher side, important resistance is around 1.1180 and the violation beyond will take the EURUSD till 1.1250/1.12880.
It is good to buy on dips around 1.1135-38 with SL around 1.1100 for the TP of 1.1245.
