EURUSD recovered above 1.1300 level and hits high of 1.13157 at the time of writing after the release of Eurozone PMI data. Germany and French manufacturing PMI came at 45.4 and 52 compared to the forecast of 44.6 and 51.0. The pair jumped more than 30 pips after PMI data. It is currently trading around 1.13017.
The Fed meeting got over on Jun 19th and it opens the door for a rate cut has boosted Euro. The 10 year US yield hits 1.975% lowest level since Sep 2017.
On the higher side, near term trend line resistance is around 1.13280 and any violation above will take the pair to next level till 1.1355 (200- day MA). Any daily close above 1.1355 will target 1.1450.
The major support is around 1.12650 (100- day MA) and any break below will drag the pair to the next level till 1.12320 (20- day MA)/1.1200.
It is good to buy on dips around 1.1280-8255 with SL around 1.1250 for the TP of 1.1400.
