FxWirePro: EUR/USD faces resistance at 161.8% extension, good to sell on rallies

• Major resistance -1.14265 (161.8% retracement of 1.13925 and 1.13384)
   
• The pair has broken major psychological resistance 1.1400 and made fresh four-week high around 1.14154 at the time of writing. It is currently trading at 1.13968.
   
• On the higher side resistance is around 1.14265 and any violation above will take the pair to next immediate resistance 1.1450/1.148 (261.8% retracement of 1.13927 and 1.13384)/1.1500 in the short term.
   
• The EUR/USD support is at 21 day 4HMA -1.13680 and breaks below targets 1.1320/1.1300/1.1270 (90 4 H EMA).
   
• In 4 hour chart both CCI(50) and RSI(14) is showing bullish divergence. So mild correction till 1.1320/1.1300 is possible.

It is good to sell on rallies around 1.1405-1.14100 with SL around 1.1450 for the TP of 1.1325/1.1300