EUR/USD breaks major support at 200- day MA, decline till 1.1045 likely
Major support – 1.1160 (200- day MA). Major resistance – 1.1250 (Sep 30th high). The pair pared its gains from the high of 1.12507 made on Friday. It has broken the pschycological level of 1.1200 today morning and decl…
The pair pared its gains from the high of 1.12507 made on Friday. It has broken the pschycological level of 1.1200 today morning and declined drastically till 1.11639 at the time of writing.
On the lower side, the support is around 1.1160 (200- day MA) and any break below targets 1.1120/1.1045 level.
EUR/USD‘s minor resistance is around 1.1221 (200- HMA) and any violation above will take the pair to next immediate resistance around at 1.1250/1.1280 in the short term.
It is good to sell on rallies around 1.1160 with SL around 1.1220 for the TP of 1.1120/1.1045.
