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EUR/USD breaks major support 1.0802 (trend line joining 1.04685 and 1.0717), decline till 1.0600 is possible

RES 4: 1.1035 (Apr 6th high) RES 3: 1.0949 (200 day 4HEMA) RES 2: 1.0904 (200 day 4HMA) RES 1: 1.0858 (20 day 4HMA) PRICE: 1.07731 @ 12:18 GMT SUP 1: 1.0794 (Cloud bottom) SUP 2: 1.0720 (Mar 31st low) SUP 3: 1.0680 (61.8…

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  • RES 4: 1.1035 (Apr 6th high)

  • RES 3:   1.0949 (200 day 4HEMA)

  •  RES 2: 1.0904 (200 day 4HMA)

  •  RES 1: 1.0858 (20 day 4HMA)

    PRICE: 1.07731 @ 12:18 GMT 

  • SUP 1: 1.0794 (Cloud bottom)

  • SUP 2: 1.0720 (Mar 31st low)

  • SUP 3: 1.0680 (61.8% retracement of 1.04613 and 1.10509)
  • SUP 4:1.0610 (Mar 19th low)

Commentary:

EUR/USD has broken trend line support 1.0800 level and decline till 1.0600 cannot be ruled out

On the upside minor resistance is around 1.0858 and break above would extend gains till 1.0881/1.0949. Sell around 1.0800 stop around 1.0880 with target of 1.0600.

 

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