Ichimoku analysis (hourly chart)
Tenken-Sen- 1.22589
Kijun-Sen- 1.22659
EURUSD lost more than 200 pips from a multi-month high of 1.23495 on hopes of the Fed would taper bond buying. Fed's Atlanta President Bostic said that there might be a rate hike by Fed by mid-2022 or early 2023. DXY surged more than 150 pips from a 33-month low of 89.20. The intraday trend of EURUSD is bearish as long as resistance 1.2260 holds.
Technical:
On the higher side, near-term resistance at 1.2180. Any indicative violation above targets 1.2220/1.2260. The near term support is around 1.213. Any break below will drag the pair down till 1.2070/1.2000.
It is good to sell on rallies around 1.22188-90 with SL around 1.2230 for the TP of 1.2070.
