FxWirePro: EUR/USD upside capped by 23.6% fibo, good to sell on rallies
Major resistance – 1.0647 (23.6% retracement of 1.09058 and 1.05694). The pair shown a good jump from the low of 1.06024 made on Apr 14th 2017. EURUSD hits intraday high of 1.06512 and shown a mild correction from the hi…
Major resistance – 1.0647 (23.6% retracement of 1.09058 and 1.05694).
The pair shown a good jump from the low of 1.06024 made on Apr 14th 2017. EURUSD hits intraday high of 1.06512 and shown a mild correction from the high. It is currently around 1.06252 0.22% higher.
The Euro jumped higher in European session as latest polls shows that candidate Macron as likely winner of the first round of French Presidential election.
On the lower side, major support is around 1.06000 and any break below will drag the pair till 1.05694 (Apr 10t h2017 low)/1.05250. Minor weakness only below 1.04900.
The near term resistance is around 1.06480 and any break above will take the pair till 1.0680/1.0702 (21- day MA).
It is good to sell on rallies around 1.06450-1.06470 with SL around 1.07000 for the TP of 1.0570/1.05250.
