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EUR/USD has once again taken support near 1.1300 level and shown a minor recovery on US-China trade deal hopes. US President said that China is buying huge amount of US soybeans and new round of trade talks with Beijing were already under way by telephone. US markets has recovered more than 3.5% after the news. The pair hits low of 1.13064 and is currently trading around 1.13341.
On the higher side, near term resistance is around 1.13600 level and any violation above targets 1.1400/1.1450. The pair should break above 1.1500 for further direction.
The near term support is around 1.1300 and any break below targets 1.12600/1.12180. Any violation below 1.1200 confirms bearish continuation.
It is good to sell on rallies around 1.1400 with SL around 1.1450 for the TP of 1.1300.
