EURUSD recovered slightly from low of 1.13630 made yesterday and is hovering near 1.1400 level. The renewal of trade talks uncertainty between US-China has supported US dollar. US 10 year yield has shown a good recovery of more than 2.5% yesterday and German bund jumped sharply and hits 3-week high following footsteps of UK Gilts which declined sharply on fears of no deal Brexit.The spread between US- 10 year yield and German bund has declined from 258 basis point to 251 basis point.It hits intraday high of 1.13988 and is currently trading around 1.13988.
On the higher side, any convincing break above 1.1400 confirms minor bullishness and a jump till 1.1435/1.1500. The pair should close above 1.1500 in daily chart for further bullishness.
The near term support is around 1.1365 (55-H EMA) and any violation below targets 1.1347/1.1300. Major support is around 1.1300.
It is good to buy on dips around 1.1385-90 with SL around 1.1340 for the TP of 1.1500.
