Euro -0.11% has pared some of its gains made yesterday after renewed trade tensions between US and China. US President said in an interview that US is planning to increase tariff from 10% to 25% for imports worth $200 billion. This dashed hopes of US and China trade talks in G20 which is to get happened in Buneos Aires .The Italy 10 year yield has declined more than 15% from the high of 3.76% and spread between Germany and Italy reduced to 290 basis point from 330. The pair hits low of 1.13052 and is currently trading around 1.13150.
On the higher side, near term resistance is around 1.1360 and any break above targets 1.1400/1.1435/1.14700.
The near term support is around 1.1300 and any break below targets 1.1200 level.
It is good to sell on rallies around 1.1325-33 with SL around 1.1365 for the TP of 1.12000.
Submit Your Comments: