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- 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
