EURUSD has broken major support 1.14600 after a minor consolidation and started to decline . The pair hits low of 1.14409 and is currently trading around 1.14460.
The pair recovered slightly till 1.15026 and started to show a good sell-off. The near term resistance will be yesterday;’s high of 1.15025 and any break above targets 1.15497 (Oct 5th high)/1.15937 (Oct 3rd high).
The near term major support is around 1.14094 (161.8% fib) and any convincing break below targets 1.13475/1.1300. Any break below 1.1300 shows that minor bullish trend from 1.1300 got completed at 1.18153 and further deep selling is on the cards.
It is good to sell on rallies around 1.1460-65 with SL around 1.1505 for the TP of 1.1305.
R1- 1.1505
R2 - 1.1550
R3- 1.1630
Support
S1- 1.1435
S2- 1.14090
S3- 1.13475
