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EUR/USD is struggling to close above 1.100, decline till 1.0600 is possible

  • RES 4:  1.10509 (Mar 26th high)

  • RES 3:   1.1035 (Apr 6th high)

  •  RES 2: 1.0940 (200 day 4HMA)

  •  RES 1: 1.0872 (55 day 4 HEMA)

    PRICE: 1.08732 @ 11:28 GMT 

  • SUP 1: 1.0830 (Cloud bottom)

  • SUP 2: 1.0720 (Mar 31st low)

  • SUP 3: 1.0680 (61.8% retracement of 1.04613 and 1.10509)

  • SUP 4:1.0610 (Mar 19th low)

Commentary:

EUR/USD is trading well below 200 day 4HMA and this confirms intraday weakness decline till 1.0600 is possible.

On the upside minor resistance is around 1.08720 and break above would extend gains till 1.0940. Sell around 1.0875 stop around 1.0950 with target of 1.0600.

 

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