FxWirePro: EUR/USD faces strong trend line resistance at 1.1250, good to sell on rallies

• Major resistance – 1.1250 (trend line joining 1.13270 and 1.12793).
   
• Potential Reversal Zone (PRZ)-  1.13270.
   
• EUR/USD has recovered sharply from the low of 1.11379 and jumped till 1.12385 yesterday. It is currently trading around 1.1224.
   
• Short term bullishness can be seen only above 1.1280 level.
   
• The pair is facing resistance around trend line at 1.12510 and any violation above will directly take the pair till 1.1280/1.13270/1.13660.
   
• Short term bearish invalidation only above 1.13660.
   
• On the lower side, 1.1220 (200 –4H MA) will be acting as immediate support and any break below will drag the pair down till 1.1180 (100- day MA)/1.1160 (200- day MA)/1.1120.

It is good to sell on rallies around 1.12500 with SL around 1.1280 for TP of 1.1180/1.1160