EUR/USD retreated sharply after making a high of 1.12588 yesterday. It is currently trading around 1.12163.
The pair has broken major support at 1.1194 (55- day ) and declined slightly from that level till 1.11818 at the time of writing.
The pair is facing strong resistance around 1.1280 ( joining 1.16163 and 1.13660)and any slight bullishness can be seen only above that level.
Short term weakness below 1.1120 level.
The major resistance is around 1.12800 ( joining 1.16163 and 1.13663) and break above targets 1.13660.The minor resistance is around 1.1245 (daily Kijun-Sen).
It is good to sell on rallies around 1.1240 with SL around 1.1280 for the TP of 1.1150/1.112