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EURUSD is trading weak for the past 4 days after a minor jump till 1.10953. The upbeat US data, surge in global markets especially, S&P500 hits fresh all-time high as fear over Coronavirus faded is supporting dollar index. US private sector has added 291000 jobs in Jan compared to a forecast of 157000 vs 199000 in Dec (revised from 202000). US ISM services came at 55.5 in Jan, the highest level since Aug. It hits low of 1.099937 yesterday and is currently trading around 1.0030.
On the higher side, near-term resistance is around 1.10650 and any indicative break above targets 1.1100/1.1125/1.1180. Major bullish continuation only above 1.12450.
The major support stands at 1.09800, violation below will drag the pair down till 1.0935/1.0880.
It is good to sell below 1.09800 with SL around 1.1030 for the TP of 1.0880.
