- Major resistance- 1.1394 (Apr 26th high)
- EUR/USD has retreated from high of 1.13602 after Fed removed the reference the global risks in Apr statement .It is currently trading around 1.13163.
- The Federal reserve has kept its interest rates unchanged and took a wait and watch mode toward future rate hikes.
- Short Term trend is slightly bearish as long as resistance 1.1400 holds .
- On the higher side major resistance is around 1.1400 and break above targets 1.14600/1.1500.
- The major support is around 1.1270 and any violation below targets 1.12150 (Apr 24th low)/1.1150/1.1050.
- Short term reversal only above 1.1460 level.
It is good to sell on rallies around 1.1345-1.1350 with SL around 1.1400 for the TP of 1.1230/1.12150.
