- EUR/USD has shown a huge recovery yesterday after ECB minutes meeting and pair has broken minor resistance of 1.1400. It is currently trading around 1.14250.
- EURO huge rally was mainly after ECB policymakers confirms exit from monetary stimulus in coming months. The single currency rose sharply till 1.14247 and shown a minor dip till 1.14070 level.
- German Bund yield crossed 0.5% for the first time since Jan 2016 and closed at 0.56%. German Bund and Euro have positive correlation. So jump in yield confirms minor jump in euro till 1.1500.
- On the higher side, temporary top formed at 1.1445 will be acting as near term resistance and any break above will take the pair till 1.1500/1.1560.
- Major intraday level is around 1.1290 and any break below will drag the pair till 1.12600 (21- day EMA).Any close below will drag the pair till 1.1150/1.1100. The minor support is around 1.1350/1.1320.
It is good to buy on dips around 1.1400 with SL around 1.1350 for the TP of 1.1500/1.1545.
