Ichimoku Analysis (Daily chart)
Tenken-Sen- 1.10333
Kijun-Sen- 1.09814
EURUSD is trading well above 1.1200, the highest level since Mar 17th, 2020. The reopening of economies after lockdown and hopes for the COVID-19 vaccine has increased demand for risk appetite. The unrest in the US after the death of George Floyd also putting pressure on the US dollar. It hits a high of 1.12270 and is currently trading around 1.12056.
Markets eye US ADP employment data and ISM services data for further direction.
Technically, near term support is at 1.1150 (resistance turned into support), any break below will drag the pair down till 1.1100/1.1060.
On the higher side, immediate resistance is around 1.1245 will take the pair to next level 1.12980/1.1335.
It is good to buy on dips around 1.11780 with SL around 1.1145 for the TP of 1.1245/1.1290.
