EURUSD is trading lower for 3rd consecutive day. The pair has lost more than 100 pips from high of 1.13837 made on Nov 26th 2018. The strength in USD was mainly due to US and China trade tensions US President Trump and Chinese PM scheduled to meet on Sat of this week in Buneos Aires at G20 summit. Markets eye US Fed Powell speech today for further direction. The pair hits low of 1.12733 for the intraday and is currently trading around 1.12753.
On the lower side, the pair has broken major support 1.1300 and this confirms weakness , a decline till 1.12600 level low made on Nov 12th 2018.
The near term major resistance is around 1.13620 (20- day MA) and any violation above will take the pair to next level till 1.1435/1.1470. The pair should break above 1.1500 for further bullishness.
It is good to sell on rallies around 1.13000 with SL around 1.1345 for the TP of 1.2150
