EURUSD has once again declined after a report from Bloomberg stated that US-China moves closer to a deal. It has lost more than 20 pips and hits a level of 1.10674. The Overall trend is neutral, any major upside-only beyond 1.1100 level. It is currently trading around 1.10739.
Markets eye important economic data such as US ADP employment and US ISM services index for further direction.
The US 10- year yield has increased more than 2.55 for the day and spread between US and German has slightly widened to 208 bps from 204 bps.
Technically near term major resistance is about 1.110, violation past will take the pair to next level till 1.1180. Major trend reversal only beyond 1.1180.
On the flip side, minor support is nearby 1.10600 and any indicative break beneath will drag the pair 1.10300/1.1000. Major weakness only under 1.0980 level.
FxWirePro: EURUSD trades flat, any break above 1.1100 targets 1.1180
