EUR/USD -0.16% is trading flat after hitting low of 1.15716. The pair is expected to show a minor change after release of major data for the Euro -0.16% Zone. The Eurozone GDP and CPI 0.09% are the major economic data to be released today. The pair jumped till 1.16585 and currently trading around 1.16412.
In the US session, US Conference Board consumer confidence data will be released.
On the lower side, the near term support is around 1.15450 (161.8% retracement of 1.16691 and 1.1880) and any convincing break below will drag the pair down till 1.1500/1. 1400 .
On the higher side, near term resistance is around 1.1660 (Support turned into resistance ) and any break above will take the pair to next level till 1.1686 (100- H MA)/1.1720 /1.1740 (233- H MA). Minor bullishness only above 1.18800.
It is good to sell on rallies around 1.1685-1.1690 with SL around 1.1740 for the TP of 1.1500/1. 1400.
Submit Your Comments: