FxWirePro: EUR/USD faces strong resistance at 61.8% fibo, good to sell below 1.07390
EURUSD broke above 1.0750 and hits three week high in today European session amid a solid jump in the German bund yields. The pair hits 1.07750 at the time of writing and is currently trading around 1.07449. The minor su…
EURUSD broke above 1.0750 and hits three week high in today European session amid a solid jump in the German bund yields. The pair hits 1.07750 at the time of writing and is currently trading around 1.07449.
The minor support for the day is around 1.0739 (hourly Kijun-Sen ) and any violation below will drag the pair down till 1.06965 (23.6% retracement of 1.0775 and 1.0594)/1.06400 (200- HMA). The near term resistance is at 61.8% fibo (1.0775) and any indicative break above will take the pair till 1.08288/1.08735/1.09058 (Mar 27th high).Minor weakness can be seen only below 1.07390.
In the hourly chart EURUSD has formed bearish divergence in the RSI and MACD. So a mild dip till 1.06500 likley.
It is good to sell below 1.07390 with SL around 1.07800 for the TP of 1.06800/1.06450.
