FxWirePro: EUR/USD breaks minor trend line support, dip till 1.07600/1.0735 likely
Major intraday support – 1.07600 (Mar 24th 2017 low). Major resistance- 1.09329 (61.8% retracement of 1.1299 and 1.03400). EUR/USD formed a temporary top around 1.09058 yesterday and started to decline from that level. U…
Major intraday support – 1.07600 (Mar 24th 2017 low).
Major resistance- 1.09329 (61.8% retracement of 1.1299 and 1.03400).
EUR/USD formed a temporary top around 1.09058 yesterday and started to decline from that level. US consumer confidence data jumped to 125.6 in March, highest since Dec 2000.
On the lower side, 1.07600 (Mar 24th 2017 low) will be acting as near term support and any break below will drag the pair down till 1.07350 (strong resistance). Any break below will drag the pair till 1.06900.
The near term resistance is at 1.0882 (200- day MA) and any violation above will take the pair to recent high at 1.09058/1.09329 (61.8% retracement of 1.1299 and 1.03400).
It is good to sell on rallies around 1.0820-1.0825 with SL around 1.0880 for the TP of 1.07600/1.07060.
