EUR/USD upside capped by 100 day MA, good to sell on rallies
Major resistance – 1.12350 (100 day SMA).
The pair jumped till 1.12337 and declined from that level. It is currently trading at 1.12034.
EUR/USD should break above 100 day SMA for further bullishness. Any break above 1.12380 will take the pair to next level till 1.12650/1.1300.
Technically on the lower side, the break below 1.1155 (90 day EMA) will drag the pair down till 1.1090. The minor support is at 1.1200/1.1180.
It should close below 1.1090 for further weakness.
It is good to sell on rallies around 1.1210 with SL around 1.12380 for the TP of 1.11550/1.1095
The pair jumped till 1.12337 and declined from that level. It is currently trading at 1.12034.
EUR/USD should break above 100 day SMA for further bullishness. Any break above 1.12380 will take the pair to next level till 1.12650/1.1300.
Technically on the lower side, the break below 1.1155 (90 day EMA) will drag the pair down till 1.1090. The minor support is at 1.1200/1.1180.
It should close below 1.1090 for further weakness.
It is good to sell on rallies around 1.1210 with SL around 1.12380 for the TP of 1.11550/1.1095
