FxWirePro: EUR/USD rejected at 1.1410, good to sell rallies

EUR/USD is currently trading at 1.1370, slipping from session highs at 1.1410, shows muted reaction to German Zew data.

• German ZEW sentiment missed forecasts, decreased to 1.9 (forecast 6.0 ) vs prev 12.1, while current conditions decreased to 55.2 (forecast 64.7 ) vs prev 67.5
   
• Further data showed the Economic Sentiment in the euro area matching forecasts at 30.1 albeit lower from September's 33.3, probably capping downside
   
• Hourly momentum is bearish, Stochs show bearish crossover at oversold levels and RSI is biased lower
   
• Immediate support for the pair is seen at 1.1363 (Session lows), and then at 1.1345 levels, breaks below could take the pair to 1.13 levels
   
• Strong resistance by 1.1450 (channel top), while minor resistance is located at 1.1410 (session highs)

Recommendation: Good to sell rallies around 1.1380, SL: 1.1410, TP: 1.1350.