FxWirePro: EURUSD faces strong resistance at 1.1260, good to sell on rallies
Monday, September 5, 2016 11:45 AM UTC
- Major resistance - 1.1260.
- The pair has made a high of 1.12525 yesterday after slightly weaker than expected US Non-Farm-Payroll and started to decline from that level. It is currently trading around 1.11606.
- In the daily chart EUR/USD is facing strong resistance at 1.1260 and further bullishness can be seen only above that level.
- Any break above 1.1260 will take the pair till 1.1300/1.1370.
- On the lower side, minor support is around 1.11500 and any break below targets 1.112 (200- day MA)/1.1045.
It is good to sell on rallies around 1.1200 with SL around 1.1260 for the TP of 1.1117
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