EURUSD is consolidating near 1.12000 level after hitting high of 1.12152 level. The European elections results show that anti-European parties on the whole failed to perform much better as most of them expected outperform. The EPP and S&D has lost more than 70 seats and also majority. The populists and euro skeptic parties vote share increased from 20% to 25%. The pair hits intraday low of 1.11750 and is currently trading around 1.11938.
On the lower side,, near term support is around 1.11750 and any violation below will drag the pair to next level till 1.1140/1.1100.
The near term resistance is around 1.12291 (55- day EMA) and any convincing break above targets 1.12650/1.13300.
It is good to buy on dips around 1.1180 with SL around 1.1140 for TP of 1.12650.
