FxWirePro: EUR/USD upside capped by 1.2000 level, good to sell on rallies

• EUR/USD has shown a minor recovery after hitting low of 1.19263 yesterday. The pair formed a temporary top around 1.20920 33- month high on Aug 8th 2017. It is currently trading around 1.19691.
   
• The pair upside capped by 20- 4h MA and psychological resistance at 1.2000. Short term trend biased weak and further weakness can be seen only below 1.19450.
   
• On the lower side, near term intraday support is around 1.19250 (61.8% retracement of 1.18230 and 1.20920) and any break below will drag the pair down till 1.1900/1.18230 (Aug 31st 2017 low).
   
• The near term resistance is at 1.2100 and any break above will take the pair till 1.2200. The minor resistance is around 1.2000.

It is good to sell on rallies around 1.1960-65 with SL around 1.201 for the TP of 1.18250