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EURUSD recovered slightly after a decline till 1.12686 for the day. The pair hits high of 1.13000 at the time of writing and is currently trading around 1.12933.
US ADP employment data came slightly weaker than expected. It has added 102000 private jobs compared to forecast of 140K and the previous month got revised lower to 27000 compared to 41000. The slight jump came after the data. But the upside is limited and 1.13160 (300 H EMA)/1.13496 (200 H MA) will be acting as major resistance. Any minor trend reversal only above 1.13600.Bullish continuation only above 1.14500.
On the flip side, major support is at 1.12600 and any break below will drag the pair to the next level till 1.1200/1.11800.
It is good to sell on rallies around 1.12900-925 with SL around 1.13450 for the TP of 1.11800.
