- Major Intraday resistance- 1.0740 (200- H MA)
- Major support – 1.06200
- EUR/USD formed a top around 1.08288 on Feb 2nd 2017 and declined sharply from that level. It is currently trading around 1.06596.
- The trend line support at 1.06963 was acting as minor support and any break below will drag the pair till 1.06200/1.05800 (Jan 19th low).
- On the higher side, major resistance is around 1.0740 (200- HMA) and above that level targets 1.0800/1.08288 (Feb 2nd 2017 high)/1.08735 (Dec 8th 2016 high).
- Short term bearish invalidation only above 1.08735. The decline from 1.16163 and 1.03402 will come to an end if the pair breaks above 1.08735 level.
- It is good to sell on rallies around 1.0675-6800 with SL around 1.07400 for the TP of 1.05800/1.0500.
Resistance
R1-1.0740
R2 -1.08000
R3- 1.08735
Support
S1-1.06200
S2-1.0580
S3- 1.05000


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