FxWirePro: EUR/USD downside capped by trend line support, good to sell on rallies

• EUR/USD continuing its losing streak for second consecutive days after hitting 33- month high of 1.20922 on Aug 8th 2017. The pair declined till 1.19459 and is currently trading around 1.19385.
   
• The pair has taken support near 55 -4H MA and slightly jumped from that level. Short term trend biased weak and further weakness can be seen only below 1.19450.
   
• On the lower side, near term intraday support is around 1.19450 (55 4H MA and also trend line support) and any break below will drag the pair down till 1.1900/1.18230 (Aug 31st 2017 low).
   
• The near term resistance is at 1.2100 and any break above will take the pair till 1.2200.

It is good to sell on rallies around 1.1960-65 with SL around 1.201 for the TP of 1.20925/1.2200.