EUR/USD breaks below 55- day EMA, good to sell on rallies

FX:EURUSD   Euro / U.S. Dollar
238 0 9
Major Resistance – 1.1280 ( trend line joining 1.16163 and 1.13660).

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 EMA ) and declined slightly from that level till 1.11818 at the time of writing.

The pair is facing strong resistance around 1.1280 ( trend line 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 ( trend line 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

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