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Long

EUR/USD faces strong resistance at 1.1400, good to buy at dips

FX:EURUSD   Euro Fx/U.S. Dollar
241 0 3
Major support – 1.1299 (200 4 H MA)

EUR/USD             has jumped drastically on Friday due to weaker than expected US jobs data. It is currently trading around 1.13478.

The U.S economy has added only 38k jobs in the month of May, lowest number since 5-1/2 years. Weak jobs growth eases US rate hike fears.

The pair made a high of 1.13734 and slightly declined from that level .Short term trend is slightly bullish as long as support 1.1295 holds.

Any break below 1.1295 will drag the pair down till 1.1265/1.1230/1.1200.

Short term bullish invalidation only below 1.11000.

On the higher side major resistance is around 1.1380 and any break above targets 1.1435/1.1450/1.1500.

It is good to buy at dips around 1.1300 with SL around 1.1235 for the 1.1380/1.1435.
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