- EUR/USD declined sharply after hitting high at 1.14454 on Jun 29th 2017. The pair has broken minor support at 7- day MA at 1.13350 and declined till. It is currently trading around 1.13246.
- The pair has declined sharply after ECB’S Coeure said that Governing council has not discussed policy changes and such discussion may come. On the lower side, major near term support is around 1.1290 and any break below will drag the pair till 1.1260 (21- EMA)/1.1200.
- Intraday trend is still bullish as long as support 1.1290 holds.
- On the higher side, major resistance is around 1.1450 and any break above will take the pair till 1.1500/1.1545.
- Short term bearish invalidation only below 1.1100.
It is good to sell on rallies around 1.1350-55 with SL around 1.1400 for the TP of 1.1255/1.1200.
