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- The pair taken support once again near 1.1100 and jumped slightly from that level. The pair hits intraday high of 1.11500 and is currently trading around 1.11451.
- Intraday major resistance is around 1.11560 (trend line joining 1.12958 and 1.12129) and any break above will take the pair till 1.118 (55&89 EMA) in the 4 hours chart/1.12075 (100 MA)/1.1230/1.12950. The pair should break above 1.1300 for further jump till 1.1360/1.14350.
- On the lower side, any break below 1.1100 confirms minor weakness, a decline till 1.1050/1.1000 likely. There is no major events in the Eurozone and market awaits U.S Existing Home sales which is expected to decline 5.54M compared to previous 5.57M.
It is good to buy above 1.11560 with SL around 1.1100 for the TP of 1.1235/1.1280.
