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FxWirepro: EUR/USD Buy above 1.11660

  • Major resistance- 1.11660 (21 day 4H MA).
     
  • Major support – 1.11160 (200- day MA).
     
  • EUR/USD has jumped till 1.11660 yesterday and started to decline from that level. It is currently trading around 1.11424.
     
  • The pair is facing strong support at 1.1110 (200- day MA) and any violation below confirms minor weakness, a decline till 1.1045/1.1000 is possible.
     
  • On the higher side, any break above 1.11660 will take the pair to next immediate resistance at 1.12150 (100- day MA)/1.1260.EUR/USD must close above 100-day MA for further bullishness.

It is good to buy above 1.11660 with SL around 1.1100 for the TP of 1.12150/1.1260.

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