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EURUSD has pared most of its loss made and recovered more than 100 pips on account of political uncertainty in Washington and Fed rate hike pause. Roger Stone former advisor to Donald Trump got arrested in Florida for lying in Mueller’s investigation.Fed is expected to pause rate hike and CME FedWatch tool shows that 99.5% probability that Fed Funds rate will remain unchanged. The pair hits high of 1.14257 and is currently trading around 1.14112.
On the lower side, near term support is around 1.1350 and any break below will drag the pair to next level till 1.1300/1.12670.
The near term resistance is around 1.1435 and any violation above targets 1.1475/1.1500.
It is good to sell on rallies around 1.1435-440 with SL around 1.1500 for the TP of 1.1300.
