FxWirePro: EURUSD trades below trend line support, dip till 1.05250 likely
Friday, April 7, 2017 11:35 AM UTC
- Major support – 1.06400 (trend line joining 1.04940 and 1.06348).
- Major intraday resistance – 1.0662 (21- 4H EMA).
- EURUSD has rallied against all major pairs after US fires missiles into Syria. All safe haven assets shown huge upside after the attack of U.S on Syria.
- Market awaits U.S NFP data for further direction. U.S economy is expected to add 174K jobs in Mar compared to 235k jobs in Feb.
- On the lower side, any close below trend line support will drag the pair down till 1.0600/1.05250/1.04950.
- The near term resistance is around 1.06600 and any break above will take the pair till 1.07020 (21- day EMA)/1.07600.
It is good to sell on rallies around 1.0640-1.0645 with SL around 1.0702 for the TP of 1.05250/1.04950.