FxWirePro: EUR/USD Faces Strong Resistance at 1.1320, Good to Sell on Rallies
- Major resistance – 1.1320
- Major intraday resistance – 1.12650 (200 day 4H MA)
- The pair has slightly recovered after making a low of 1.12150 on Friday .it is currently trading around 1.12480.
- Short term trend is slightly bearish as long as resistance 1.1320 holds.
- On the higher side major intraday resistance is around 1.12650 and break above targets 1.1320/1.1380/1.1400. The pair should close above 1.1400 for further bullishness.
- The support is at 1.1200 and nay violation below that level targets 1.11500/1.10500 level.
It is good to sell on rallies around 1.1250-55 with SL around 1.1320 for the TP of 1.1150/1.1050
The material has been provided by InstaForex Company - www.instaforex.com