EUR/USD is trading weak and hits fresh low at 1.15086 at the time of writing. The pair declined after Federal reserve chairman Jerome Powell said that US labor market is not as tight and further rate hikes is on cards. T…
EUR/USD is trading weak and hits fresh low at 1.15086 at the time of writing. The pair declined after Federal reserve chairman Jerome Powell said that US labor market is not as tight and further rate hikes is on cards. The other reason for slight in Euro is that after Euro skeptic Bagnai was named Italy’s Financial committe head.The safe haven yen declined against USD after slightly easing geopolitical tensions. The policy divergence between US Fed and ECB is dragging the Euro further down. It is currently trading around 1.15397.
On the higher side, near term major intraday resistance is around 1.1660 and any convincing break above will take the pair to next level till 1.1725/1.1750 .Minor bullishness only above 1.1850.
The near term major support is at 1.1500 and any convincing break below will drag the pair to next level till 1.140/1.1370.
It is good to sell on rallies around 1.1585-90 with SL around 1.1650 for the TP of 1.1400.
