FxWirePro:EUR/USD faces strong resistance at 1.08200, good to sell on rallies
Major resistance- 1.08200 The pair jumped sharply till 1.07961 after making a low of 1.05047 yesterday. It is currently trading around 1.07498. It should break above 1.08200 for further bullishness. Any break above 1.082…
The pair jumped sharply till 1.07961 after making a low of 1.05047 yesterday. It is currently trading around 1.07498.
It should break above 1.08200 for further bullishness. Any break above 1.08200 will take the pair to next level till 1.0875/1.0900/1.1000. The pair should close above 1.1000 for further bullishness.
On the lower side, minor support is around 1.06800 and any break below will drag the pair down till 1.06130 (61.8% retracement of 1.05047 and 1.07960)/1.0550/1.0500. Any close below 1.0500 confirms further weakness.
It is good to sell on rallies around 1.0760-1.0765 with SL around 1.0825 for the TP of 1.0600/1.0550.
