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FxWirePro: EUR/USD upside capped by 20- day MA, good to buy on dips

Major support  - 1.1300

EURUSD has recovered almost 150 pips from the yeterday’s low of 1.13944 on account of Donald Trump’s comment on Fed rate hike. Trump in his interview has criticized US central bank fed rate hike . There was broad based selling USD after Trump’s interview.The rising yield spread between German and Italy doesn't have much impact on Euro. The pair hits high of 1.15442 at the time of writing .

The near term resistance is around 1.1550 (20 day MA) and any break above targets 1.1600/1.1645 (55- day EMA).

The near term major support is around 1.1500 and any break below targets 1.145 (10- day MA)/1.13800. Major weakness can be seen only below 1.1300.

It is good to buy above 1.1500 with SL around 1.1450 for the TP of 1.1645.

 

 

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