FxWirePro: EUR/USD faces strong support at 1.06500, break below confirms further weakness
Major support - 1.06500 (61.8% retracement of 1.04948 and 1.09058). Major intraday resistance - 1.07120 (23.6% retracement of 1.09058 and 1.06512). EUR/USD has shown a minor jump after showing dip till 1.06512 on Mar 31s…
Major support - 1.06500 (61.8% retracement of 1.04948 and 1.09058).
Major intraday resistance - 1.07120 (23.6% retracement of 1.09058 and 1.06512).
EUR/USD has shown a minor jump after showing dip till 1.06512 on Mar 31st 2017. The pair has formed temporary at 1.09058 on Mar 27th and any minor bullishness only above that level. It is currently trading around 1.06564 0.01% lower.
On the lower side, any break below 1.06500 confirms minor weakness, a decline till 1.06000 (Mar 14th 2017 low) is possible. Any break below 1.0600 will drag the pair till 1.05250 (Mar 9th 2017 low).
The near term resistance is around 1.07120 (23.6 retracement of 1.09058 and 1.06512) and any break above targets 1.07800 (200- H MA)/1.08300.
It is good to sell below 1.06500 with SL around 1.0700 for the TP of 1.05800/1.05250
