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EUR/USD Retraces After 1.1555 Peak: Technical Levels Point to 1.1600 
- EURUSD jumped sharply from the low of 1.23105 level. The pair jumped almost 90 pips till 1.23980 on account of slight bounce in global equity market. It is currently trading around 1.23907.
- S&P500 recovered almost 6.7% from the low of 2531 till 2700. The near term resistance is around 2715 (55- day EMA) and any break above targets 2747/2790.
- The pair is facing trend line resistance of 1.2400 and any close above will take the pair till 1.2475/1.2500/1.25380. Bullish continuation can be seen only above 1.2540.
- On the lower side, near term support is around 1.23800 and any violation below will drag the pair to next level till 1.23500/1.2305. Minor trend reversal only below 1.2305 (20- day MA).
It is good to buy above 1.2400 with SL around 1.2350 for the TP of 1.2500/1.2540.
