FxWirePro: EUR/USD trades in narrow range, break below 1.08500 confirms further weakness
EUR/USD has fallen till 1.08533 yesterday after upside rejection at 1.1020 (high made after French election result). It is currently trading around 1.08730. The pair minor upside is capped by 10- SMA and any minor bullis…
EUR/USD has fallen till 1.08533 yesterday after upside rejection at 1.1020 (high made after French election result). It is currently trading around 1.08730.
The pair minor upside is capped by 10- SMA and any minor bullishness can be seen only above that level. Any break above 1.09120 will take the pair to next level till 1.09500/1.1000. It should break above 1.1020 for further bullishness.
On the lower side, major support stands at 1.08500-1.08370 (200 day MA) and any break below confirm major weakness a decline till 1.05694 likely.
Overall bullish continuation can happen above 1.1020 level.
It is good to sell on rallies around 1.0915-20 with SL around 1.1000 for the TP of 1.0825/1.0700.
