- 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 trend line support around 1.05680 and declined till 1.05403. It is currently trading around 1.05411.
- 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
Resistance
R1- 1.06300
R2 -1.0680
R3- 1.0740
Support
S1-1.05200
S2-1.04935
S3- 1.04500
