FxWirePro: EUR/USD trades below 233- H MA, good to sell on rallies
EUR/USD is continuing its weakness for third consecutive days on rising US 10 year yield. The pair hits low of 1.23375. It is currently trading around 1.23350. US 10 year bond yields hits high of 2.92% on Friday and is t…
EUR/USD is continuing its weakness for third consecutive days on rising US 10 year yield. The pair hits low of 1.23375. It is currently trading around 1.23350.
US 10 year bond yields hits high of 2.92% on Friday and is trading slightly higher ahead of major auction $51 billion in 13- week ,$45 billion in 26 –week bills and $55 billion in four week bills.
The pair is facing near term resistance of 1.2360 (233- H MA) and break above will take the pair till 1.23890 (23.6% fibo)/1.2437 (100- H MA)/1.2500. Bullish continuation can be seen above 1.2550.
On the lower side, near term support is around 1.2330 and any violation below will drag the pair to next level till 1.2275/1.2200/1.2165. Minor weakness can be seen only below 1.2200.
It is good to sell on rallies around 1.2360-65 with SL around 1.2420 for the TP of 1.2275/1.2200.
