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- EURUSD has shown a minor recovery after hitting low of 1.13186 and the pair has once broken minor intraday resistance of 1.11345 (200- H MA). It is currently trading around 1.13746.
- In the hourly chart the pair is trading slightly above Tenkan-Sen (1.1350) and Kijun-Sen (1.1340). Intraday weakness can be seen only below 1.12900 level.
- Any break below 1.12900 will drag the pair down till 1.12600 (21- day EMA). Major weakness can be seen if the pair closes only below 1.12600.
- On the higher side, the temporary top formed around 1.1430 will be acting as major bullish continuation level. The minor resistance is around 1.1380/1.1400.
- Market awaits major economic data U.S Nonfarm Payroll which is to be released tomorrow for further direction.
It is good to buy on dips around 1.1325-1.13300 with SL around 1.1290 for the TP of 1.1430/1.1500.
