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EUR/USD consolidates between 1.120 and 1.1330, good to sell on rallies

RES 4 :1.4656 (May 15th high) RES 3:1.13855 (Jun 10th high) RES 2: 1.13301 (Jun 11th high) RES 1: 1.1290 (Jun 12th high) PRICE: 1.12575 @ 10:32 GMT SUP 1: 1.1245 (200 day HMA) SUP 2: 1.1178 (Jun 11th low) SUP 3: 1.1101 (…

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  • RES 4 :1.4656 (May 15th high)

  • RES 3:1.13855 (Jun 10th high)

     
  • RES 2: 1.13301 (Jun 11th high)

  • RES 1: 1.1290 (Jun 12th high)


  PRICE: 1.12575 @ 10:32 GMT 

  • SUP 1: 1.1245 (200 day HMA)

  • SUP 2: 1.1178 (Jun 11th low)

  • SUP 3: 1.1101 (50 % retracement of 1.0818 and 1.13854)

  • SUP: 1.1050 (Jun 5th low)

Commentary:

EUR/USD has broken short term resistance and jumped till 1.13284. Overall trend is bearish has long as resistance 1.1380 holds.

On the downside minor support is around 1.12420 and break below will drag the pair further down till 1.1178/1.1130 in short term.

 It is good to sell on rallies around 1.12725 with SL around 1.1300 for the TP of 1.1178/1.1135.

 

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