FxWirePro: EUR/USD Faces Strong Resistance at 1.1320, Good to Sell on Rallies

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