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FXSHANIMEO: EURUSD STRUGGLES TO BREAK ABOVE 1.11500, MARKETS EYE US CPI DATA 14 January 2020, 12:15

FXshanimeo: EURUSD STRUGGLES TO BREAK ABOVE 1.11500, MARKETS EYE US CPI DATA

14 January 2020, 12:15

Major resistance - 1.11780

EURUSD has halted its a minor jump of nearly 60 pips from low of 1.10851 amid US-China trade optimism. The sentiment got lifted after the US has removed China from the currency manipulator list. The demand for Safe-haven assets like yen, gold, and dollar got declined. The pair hits high of 1.11440 at the time of writing and is currently trading around 1.11315.

Technically, near term support is at 1.1100 and any violation below will drag the pair down till l.10650/1.100.Major bearishness only below 1.100 levels.

The major intraday resistance is around 1.1150 and any indicative break above targets 1.1180/1.1245/1.12885. The decline from 1.14122 will get over at 1.08848 only if pair breaks 1.12850.

It is good to buy on dips around 1.1100 with SL around 1.10650 for the TP of 1.1245.
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