FxWirePro: EUR/USD hits 21- month low on Italy No vote referendum, good to sell on rallies
EUR/USD has seen a huge selling pressure in today’s Asian session. The pair breaks major support of 1.05180 and declined till 1.05048 after the Italian vote No in Sunday’s constitutional amendment referendum. The pair sl…
EUR/USD has seen a huge selling pressure in today’s Asian session. The pair breaks major support of 1.05180 and declined till 1.05048 after the Italian vote No in Sunday’s constitutional amendment referendum.
The pair slightly jumped till 1.05950 after the making a 21- month low .But upside is capped by 10 –day MA (1.06115). Any violation above 1.06115 will take the pair to 1.06500/1.06900 level. Short term bullishness can be seen only above 1.07015 (23.6% retracement of 1.12994 and 1.05180) and any break above will take the pair till 1.0755/1.08167.
On the lower side , any break below 1.0500 will drag the pair down till 1.0456 (Mar 2015 lows)/1.0400.
It is good to sell on rallies around 1.05700-1.0575 with SL around 1.0650 for the TP of 1.04800/1.0400
