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EURUSD trades higher for 3rd consecutive day and jumped more than 60 pips from low of 1.11162.The recovery is to be limited on trade war escalation and Italian political risks. Markets eye US ISM manufacturing for further direction. It hits intraday high of 1.11893 and is currently trading around 1.11832.
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On the higher side, near term resistance is around 1.12159-1.1220 (trend line resistance and 55- day EMA) and any break above will take the pair to next level till 1.12650/1.13000.
The near term support is around 1.11700 and any violation below will drag the pair till 1.11400/1.11000. Any further bearish continuation happens only below 1.11000.
It is good to sell on rallies around 1.1215-220 with SL around 1.12650 for the TP of 1.1100.
