EUR/USD declined slightly after ECB meeting. ECB has kept its interest rates unchanged at 0% and dropped any reference for further rate cut. It is ready to extend its QE program if needed. The pair dipped till 1.12060 and is currently trading around 1.12172.
The pair is facing strong support at 1.1200 and any close below will confirm further weakness. It should break below 1.1100 (May 30th 2017 low) for bearish continuation.
On the higher side, major resistance is around 1.1300 and further bullish continuation only above 1.13660/1.1430.
It is good to sell on rallies around 1.1210-1.1215 with SL around 1.12600 for the TP of 1.1100.
The pair is facing strong support at 1.1200 and any close below will confirm further weakness. It should break below 1.1100 (May 30th 2017 low) for bearish continuation.
On the higher side, major resistance is around 1.1300 and further bullish continuation only above 1.13660/1.1430.
It is good to sell on rallies around 1.1210-1.1215 with SL around 1.12600 for the TP of 1.1100.