FxWirePro: EUR/USD recovers slightly, good to sell on rallies

• Major resistance – 1.1645 (233- H MA).
   
• EUR/USD has shown a minor jump after hitting low of 1.15543 on rumor of slight delay in corporate tax cut.  The pair jumped slightly till 1.1600 and is currently trading around 1.15989.
  
   
• The greenback was strong for past ten days on increased expectations of tax cuts by Trump administration. But Washington post citied that there may be chance of delay in US tax cut reform.
   
• After a week of consolidation the pair has broken the low of 1.15742 made after US Nonfarm payroll yesterday. This confirms further weakness in Euro to continue and a dip till 1.1500/1.14235 (38.2% retracement of 1.04833 and 1.20925).
   
• On the higher side, minor bullishness can be seen only above 1.1640 (233- H MA) and any break above will take the pair to next level till 1.1720/1.1755.

It is good to sell on rallies around 1.1600 with SL around 1.1650 for the TP of 1.1500/1.1435.