EURUSD has shown a minor 40 pips dip from high made during European session. It hits intraday low of 1.13120. Markets are slightly consolidating ahead of US CPI data.
Core CPI m/m +0.1% 0.2%
CPI m/m +0.1% 0.1%
Annual inflation 1.8% 2.1%
The pair hits 1.13409 level after release of data. The near term resistance is around 1.1365 (200- day MA) and any violation above targets 1.1420/1.1450.
On the lower side, near term support is around 1.1270 (100- day MA) and any convincing break below will drag the pair to next level till 1.1215/1.11750.
It is good to buy on dips around 1.13200 with SL around 1.12650 for the TP of 1.1440.