FxWirePro: EUR/USD trades higher on US tax bill vote delay, good to buy on dips

• EUR/USD shown a recovery of almost 130 pips from the low of 1.18093 yesterday. The pair upside is supported by slight delay in Senate vote on US tax. The Senate tax bill vote has been delayed till today afternoon as Republican Senators worried on the impact on the fiscal deficit.
   
• The number of Americans filing for unemployment claims declined for the second consecutive week. It has slipped 2000 to 238K compared to forecast of 240K. US personal income rose 0.4% in Oct vs forecast of 0.3% and US core PCE Index rises 1.4% y/y as expected. Market awaits US ISM manufacturing.
   
• Technically the pair is facing resistance at 1.19615 (Nov 27th high) and any break above will take the pair to next level till 1.2000/1.2090.
   
• On the lower side, near term support is around 1.19000 and any break below will drag the pair to next level till 1.18700 (50- H MA)/1.1835 (233- H MA)/. It should break below 1.1800 for minor weakness.

It is good to buy on dips around 1.19250-300 with SL around 1.1900 for the TP of 1.2000.