FxWirePro: EUR/USD hits 10 –month low on political uncertainty, good to sell on rallies
EUR/USD pared its early loss after hitting 10 –month lows of 1.1510. The pair jumped till 1.15817 at the time of writing. 5-Star Leader Luigi di Maio says he never sought an exit from the euro-zone. Italian bond yield so…
EUR/USD pared its early loss after hitting 10 –month lows of 1.1510. The pair jumped till 1.15817 at the time of writing. 5-Star Leader Luigi di Maio says he never sought an exit from the euro-zone. Italian bond yield soared more than 1% for the first time since 2014.The political uncertainty in Spain and warning from George Soros also affecting Euro prices. It is currently trading around 1.15751.
On the higher side, near term major intraday resistance is around 1.1584 (hourly Kijun-Sen) and any break above will take the pair to next level till 1.1640 (55- H EMA)/1.1678 (100- H MA)/1.1729 (200- H MA).Short term bearish invalidation only above 1.2020 (200- day MA).
The near term support is at 1.1500 and any convincing break below will drag the pair to next level till 1.1400/1.1355.
It is good to sell on rallies around 1.1605-610 with SL around 1.15735 for the TP of 1.1500/1.1400.
