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EURUSD pared most of its gains as the dollar recovered. It hit a low of 1.11120 a the time of writing and is currently trading around 1.11132.
Intraday bias remains bearish as long as support 1.1150 holds.
Technicals-
The pair is trading below 34- and 55 EMA in the 15 min chart.
The near-term resistance is around 1.1150, a breach above targets 1.11780/1.1190/1.1200. Major bullish continuation only above 1.12150. A jump above will take the pair to 1.12780.The immediate support is at 1.1110 any violation below will drag the pair to 1.1060/1.1000.
Indicator (15 min chart)
CCI (50)- Bearish
Average directional movement Index - Bearish. All indicators confirm a bearish trend.
Sell-on rallies around 1.1120 with SL around 1.1150 for a TP of 1.10600.
