FxWirePro: EUR/USD faces strong support at 200 day MA, good to sell on rallies

• Major support – 1.10780 (200 day MA).
   
• The pair has made a low of 1.10717 yesterday and slightly recovered from that level. It is currently trading around 1.0911.
   
• The pair has made temporary bottom around 1.10457 on Friday and jumped till 1.11052 from that level. It should close below 200 day MA for further weakness.
   
• On the lower side, any close below 1.10780 confirms minor trend reversal, a decline till 1.1000/1.0950 likely.
   
• Technically the pair should break above 1.1156 (90 day EMA) for minor bullishness and break above targets 1.1200/1.1.230.

It is good to sell on rallies around 1.1100 with SL around 1.1160 for TP of 1.100/1.0955.