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- EUR/USD declined slightly after ECB meeting. ECB has kept its interest rates unchanged at 0% and dropped any reference for further rate cut. It is ready to extend its QE program if needed. The pair dipped till 1.12060 and is currently trading around 1.12103.
- The pair is facing strong support at 1.1200 and any close below will confirm further weakness. It should break below 1.1100 (May 30th 2017 low) for bearish continuation.
- On the higher side, major resistance is around 1.1300 and further bullish continuation only above 1.13660/1.1430.
It is good to sell on rallies around 1.1210-1.1215 with SL around 1.12600 for the TP of 1.1100.
