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EUR/USD faces strong support around 1.1000, break below targets 1.0825

  • Major support -1.1000 (200 day 4 HMA)

  • Major resistance - 1.10550 (support turned into resistance)

  • The pair has made a low of 1.1003 yesterday and recovered from that level. It is currently trading around 1.1033.

  • Intraday trend is weak as long as resistance 1.10550 holds.

  • Any break above 1.10550 will take the pair till 1.1088/1.1125/1.1140.

  • Short term bearish invalidation only above 1.1150.

  • On the lower side any break below 1.1000 will drag the pair down till 1.1092/1.10825

It is good to sell on rallies around 1.10375-380 with SL around 1.0880 for the TP of 1.100/1.0920/1.0830

 

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