Ichimoku Analysis (4-Hour chart)
Tenken-Sen- 1.08244
Kijun-Sen- 1.08212
EURUSD recovered more than 100 pips from an intraday low of 1.07843. the positive market sentiment due to easing of lockdown has dented demand for Safe-haven assets like the U.S dollar. The US core CPI declined by 0.4% from -0.1% previous month vs forecast of -0.2%.
The near term major support is around 1.0800, any violation below will drag the pair down till 1.07600/1.07200. Any break below 1.0720 confirms bearish continuation, a dip till 1.0650/1.0600.
On the higher side, near term resistance is at 1.08850 (200-4H MA), and indicative break above targets 1.09250/1.09590.
It is good to buy on dips around 1.0858-60 with SL around 1.0820 for the TP of 1.09500.
