Major support – 1.04900 EUR/USD has formed minor bottom around 1.04935 on Feb 22nd 2017 and is struggling to break below that level. It has reached high of 1.06400 from that low on Mar 6th 2017. It is currently trading a…
EUR/USD has formed minor bottom around 1.04935 on Feb 22nd 2017 and is struggling to break below that level. It has reached high of 1.06400 from that low on Mar 6th 2017. It is currently trading around 1.06140.
The near term resistance is around 1.06270 -1.06400 (trend line resistance and 200- 4H MA) and any break above will take the pair till 1.06996 (61.8% retracement of 1.08288 and 1.04936)/1.07140.
On lower side , any weakness can be seen below 1.04900 and break below will drag the pair till 1.04530/1.03450 (Jan 1st 2017 low).
Overall bearish invalidation only above 1.08735.
It is good to sell on rallies around 1.06500 -1.06550 with SL around 1.0700 for the TP of 1.05200/1.04950.
