EURUSD recovered slightly above 1.1350 as market mood improves slightly with US stocks surged nearly 5%. Markets eye US Trump fiscal stimulus package for coronavirus. The pair declined more than 50 pips from the intraday high of 1.3667.
US 10-year yield has shown a nice recovery of more than 100% from an all-time low of 0.36%. The spread between US 10-year yield over Germany has widened slightly to 148 bps from 124 bps.
On the flip side, near term support is around 1.1285 and any violation below will drag the pair down till 1.12450/1.1190.
The immediate resistance is at 1.1400 and the indicative break above will target 1.1460/1.1500.
It is good to sell on rallies around 1.1358-60 with SL around 1.1400 for the TP of 1.1200.
