EUR/USD struggles to hold above 1.1600, decline till 1.1400 is possible

EUR/USD has made a high of 1.17129 yesterday and declined from that level. Short term trend is still weak as long as resistance 1.1620 holds.

• Any break above 1.1620 will take the pair to next level at 1.1720/1.1800 level.
• On the lower side major support is around 1.1498 and any break below will drag the pair further down till 1.1400/1.1330 in short term.

It is good to sell on rallies 1.1530-35 with SL around 1.1580 for the TP of 1.1430/1.1400.