EUR/USD breaks minor trend line support, decline till 1.0600 likely
Wednesday, January 25, 2017 8:18 AM UTC
- Major support – 1.07300 (trend line joining 1.05891 and 1.06251).
- Major resistance – 1.0815 (161.8%retraceemnt of 1.07196 and 1.05891).
- EUR/USD has broken minor trend line support at 1.07300 and declined till 1.07113. It is currently trading around 1.07245.
- On the lower side, any break below 1.7014 (38.2% retracement of 1.07720 and 1.05891) will drag the pair down till 1.0675 (200 –H MA)/1.05891.
- Potential reversal Zone is around 1.08015 and any break above will take the pair till 1.08735.
It is good to sell on rallies around 1.07300 with SL around 1.07800 for the TP of 1.06750/1.05890.
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