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EUR/USD breaks minor resistance, targets 1.1366/1.1380

Friday, August 26, 2016 6:34 AM UTC

Minor intraday resistance- 1.2930 (trend line joining 1.12973 and 1.12963).
Time frame- 15 min.
Moving average -55 EMA -1.1289.
EUR/USD has recovered from the low of 1.12712 made on yesterday. It is currently trading around 1.12937.
In 15 min chart the pair is trading above 55- 15 min EMA and also broken trend line resistance. It is good to go long for very short term target of 1.13663.
The minor weakness can be seen below 1.12700 and any violation below 1.12700 will drag the pair till 1.1245/1.1228 (100 day MA)/1.11750.
On the higher side, strength can be seen only above 1.1370 level.

It is good to buy on dips around 1.1300 with SL around 1.1270 for the TP of 1.13660/1.1380

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EUR/USD breaks minor resistance, targets 1.1366/1.1380

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