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- EUR/USD is slightly consolidating after hitting low of 1.19162 yesterday. The pair has formed a double top around 1.20891. The bullish continuation only above 1.2092. It is currently trading around 1.19967.
- Market eyes US PPI, CPI and retail sales data to be released this week for further direction.
- Technically, near term is around 1.1905 (20- day MA) and any break below will drag the pair down till 1.1854 (61.8% fibo)/1.1800.Minor weakness can be seen only below 1.1800.
- On the higher side, near term resistance is around 1.1992 (10- day MA) and any break above will take the pair till 1.20520/1.20920.
It is good to sell on rallies around 1.2050 with SL around 1.2095 for the TP of 1.1845/1.1805.
