EUR/USD breaks trend line support, declined till 1.04530 likely
Major resistance – 1.06305 (Feb 27th high) Major support – 1.05680 (trend line joining 1.05370 and 1.05510) EURUSD forms double top around 1.06300 level and declined sharply from that level. The pair has also broken tren…
Major support – 1.05680 (trend line joining 1.05370 and 1.05510)
EURUSD forms double top around 1.06300 level and declined sharply from that level. The pair has also broken trend line support around 1.05680 and declined till 1.05259. It is currently trading around 1.05442.
On the lower side, next immediate support stands at 1.0520 and any break below targets 1.04935 (Feb 22nd 2017 low)/1.04530 (Jan 11th 2017 low)/1.03400.
Short term bearish invalidation only above 1.06800.
It is good to sell on rallies around 1.055-1.0560 with SL around 1.06030 for the TP of 1.04935/1.04530
