EUR/USD trades slightly after Fed rate hike, good to buy at dips
EUR/USD has declined till 1.08879 after Fed hikes interest rate by 25bpbs. But the pair has recovered after Fed said monetary policy stance is accommodative (rates to be hiked at very slow pace)
The pair is expected to gradually increase till 1.1000/1.10600 ins short term. Minor support is around 1.0880 and weakness can be seen below that level.
Any break below 1.0880 will drag the pair till 1.0830/1.0780.
On the higher side resistance is around 1.0970 and any indicative break above will take the pair till 1.100/1.10600/1.1100.
Overall bearish invalidation only above 1.1100.
It is good to buy at dips around 1.0903-35 with SL around 1.0870 for the TP of 1.106/1.1100
The pair is expected to gradually increase till 1.1000/1.10600 ins short term. Minor support is around 1.0880 and weakness can be seen below that level.
Any break below 1.0880 will drag the pair till 1.0830/1.0780.
On the higher side resistance is around 1.0970 and any indicative break above will take the pair till 1.100/1.10600/1.1100.
Overall bearish invalidation only above 1.1100.
It is good to buy at dips around 1.0903-35 with SL around 1.0870 for the TP of 1.106/1.1100