FxWirePro: EURUSD faces strong resistance at 200- day MA, good to sell on rallies
EUR/USD breaks major resistance 1.11210 (50- day MA) and closed slightly above that level. But not able hold at higher levels and started to decline from the high of 1.11417 made on yesterday. It is currently trading aro…
EUR/USD breaks major resistance 1.11210 (50- day MA) and closed slightly above that level. But not able hold at higher levels and started to decline from the high of 1.11417 made on yesterday. It is currently trading around 1.10692.
The pair has declined slightly below daily Kijun-Sen and recovered sharply from that level. Any further weakness can be seen below if it closes daily Kijun-Sen level.
On the higher side any break above 1.1178 (200- day MA) targets 1.1200 (Trend line joining 1.1630 and 1.13663).Any close above 1.1200 will take the pair to next level till 1.1300/1.13663.
It is good to sell on rallies around 1.1120-1.1125 with SL around 1.11780 for the TP of 1.1000/1.0950.
